Power Mech gains on receiving order

Power Mech Projects announced that it has received orders worth Rs 351 crore in total. As a result of this announcement, the stock of the company gained by more than 2 per cent.

The company has received orders for civil and architectural work for building structures and also, for associated work of coal, ash, lime, gypsum handling plant and supply part as well for 2x660 MW Maitree Rampal Project in Bangladesh. The work is set to be completed during a time period of 20 months with a contract price of Rs 211 crore awarded by Bharat Heavy Electricals Limited (BHEL). The other project received for the operation and maintenance services for 2x660 MW is Jaypee Nigrie Super Thermal Power Plant at Nigrie (Madhya Pradesh) for a decided time period of five years, having a total contract price of Rs 140 crore and is awarded to the company by Jaiprakash Power Ventures Limited. Combining the two project values, the total order received is worth Rs 351 crore.

Power Mech Projects Limited operates as an engineering and construction company providing services such as Erection, Testing and Commissioning (ETC), civil, operation and maintenance for power projects.

On Wednesday, the stock of the company was trading at Rs 733.00, up by 2.10 per cent or Rs 15.05 per share. The 52-week high is Rs 1,164.15 and 52-week low is Rs 562.10 on BSE.