Power Mech Projects rises on incorporating step down subsidiary
Power Mech Projects is currently trading at Rs. 2785.75, up by 21.30 points or 0.77% from its previous closing of Rs. 2764.45 on the BSE.
The scrip opened at Rs. 2769.45 and has touched a high and low of Rs. 2797.20 and Rs. 2710.00 respectively. So far 3987 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3725.00 on 23-Aug-2024 and a 52 week low of Rs. 1671.38 on 02-Nov-2023.
Last one week high and low of the scrip stood at Rs. 3184.95 and Rs. 2710.00 respectively. The current market cap of the company is Rs. 8791.70 crore.
The promoters holding in the company stood at 58.28%, while Institutions and Non-Institutions held 28.21% and 13.50% respectively.
Power Mech Projects has incorporated a new step-down subsidiary on October 24, 2024, with the name ‘P M T S Technology L.L.C’ in Dubai. The subsidiary will provide comprehensive software development and technology services, including specialized SAP services.
The subsidiary aims to deliver innovative and efficient solutions tailored to its clients' needs, enabling them to enhance their operations, productivity, and competitiveness. Its services will encompass a wide range of activities, such as custom software development, web and mobile app development, database management, IT consulting, and support.
Power Mech Projects is an integrated power infrastructure services company. The Company's operations include three business lines: Erection Works, Operation & Maintenance (O&M) Services and Civil Works.
