Multibagger EV stock below Rs 100 with 4,895 per cent returns: This EV-company bags new order worth Rs 1,02,00,00,000 from HPCL and other OEMs
From Rs 1.95 to Rs 97.40 per share, the stock delivered multibagger returns of 4,895 per cent in 3 years.
Servotech Power Systems Ltd., a leading manufacturer of EV chargers in India, has bagged a significant order for nearly 1,500 DC fast EV chargers from Hindustan Petroleum Corporation Limited (HPCL) and other EV charger OEMs. The order is valued at Rs 102 crore and involves two charger variants of 60 kW and 120 kW.
The order secured by HPCL involves Servotech manufacturing, supplying and installing DC EV chargers nationwide, prioritizing deployment at HPCL's retail outlets. Additionally, Servotech will also manufacture and supply the rest of the chargers to EV charger OEMs. This move is seen as an important step in making EVs more consumer-friendly by creating a robust and well-connected EV charging infrastructure.
It will also promote decarbonized mobility and cater to the evolving needs of the sustainable automotive industry. The order from HPCL and other OEMs is a significant validation of Servotech's products and capabilities, and it positions the company well for future growth in the Indian EV market.
Earlier, Servotech Power Systems landed a major contract to build 75,000 EV chargers in India, playing a key role in Adani Total Gas Ltd.'s ambitious plan and aligning with Gautam Adani's vision for sustainable e-mobility. Leveraging their 20+ years in electronics, Servotech will manufacture, supply, install, and maintain these chargers, creating a user-friendly network with easy access, streamlined transactions, and convenient navigation. This deal strengthens Servotech's position as a major player in India's EV infrastructure, adding to its proven track record in high-end LED lighting, UV-C disinfection, and medical equipment.
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Additionally, Servotech recently secured contracts for 1,800 DC Fast EV chargers for BPCL petrol pumps and 2,649 AC EV chargers across India, demonstrating their commitment to building a robust charging network and accelerating EV adoption nationwide.
On Friday, shares of Servotech Power Systems Ltd were locked in a 5 per cent upper circuit to Rs 97.40 per share from its previous closing of Rs 93.15. The 52-week high of the stock is Rs 108.7 and the 52-week low of Rs 16.48 with a market cap of over Rs 2,000 crore.
From Rs 1.95 to Rs 97.40 per share, the stock delivered multibagger returns of 4,895 per cent in 3 years. Investors should keep an eye on this multibagger EV stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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