Power Mech Projects rises on incorporating Wholly Owned Subsidiary in Saudi Arabia
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Power Mech Projects is currently trading at Rs. 6732.00, up by 23.25 points or 0.35% from its previous closing of Rs. 6708.75 on the BSE.
The scrip opened at Rs. 6790.00 and has touched a high and low of Rs. 6790.00 and Rs. 6668.40 respectively. So far 1638 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 7450.00 on 23-Aug-2024 and a 52 week low of Rs. 3342.75 on 02-Nov-2023.
Last one week high and low of the scrip stood at Rs. 6790.00 and Rs. 6580.00 respectively. The current market cap of the company is Rs. 10642.04 crore.
The promoters holding in the company stood at 58.29%, while Institutions and Non-Institutions held 26.90% and 14.82% respectively.
Power Mech Projects has incorporated a new Wholly Owned Subsidiary with the name ‘Power Mech Arabia Contracting Company’ in Saudi Arabia. The company will engage in the repair and maintenance of equipment for Power plants, oil and gas facilities, and desalination plants. Additionally, it will participate in the development, repair, and maintenance of water distribution networks, as well as the repair and maintenance of power stations and transformers. The company will also be involved in the establishment of refineries, power plants, and petrochemical plants.
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.
