From Rs 835 to Rs 2,354: This multibagger infra stock has rallied 175 per cent in less than six months!
The company’s domestic clientele includes Adani, BHEL, L&T, Vedanta, Tata Power, NTPC, CCL, etc, while international clients are Mitsubishi, Siemens, L&T Power, Hyundai, etc.
Shares of Power Mech Projects are on the fast track. The company’s stock has gained more than 175 per cent in less than 6 months. From Rs 835.35 on June 22, 2022, to Rs 2,354 on December 2, 2022, the scrip has taken off like a rocket!
On Friday, the stock of Power Mech Projects rallied 4.34 per cent to record a fresh 52-week high of Rs 2,354 on NSE.
Power Mech Projects Limited, incorporated in 1999, is an engineering and construction company providing integrated service in the erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M). The company undertakes ultra-mega power projects, super-critical thermal power projects and sub critical power projects.
The company’s domestic clientele includes Adani, BHEL, L&T, Vedanta, Tata Power, NTPC, CCL, etc, while international clients are Mitsubishi, Siemens, L&T Power, Hyundai, etc. In October, the company's joint venture with RITES bagged an order worth Rs 499.41 crore from the Bangalore Metro Rail Corporation (BMRCL).
In a filing with the exchange, the said the project has been awarded to RITES- PMPL and the order is for the construction of Depot cum workshop at Challaghatta in Reach-2 extension of Bangalore Metro Rail Project, Phase-2.
Investors should watch out for this buzzing infra stock which is gaining traction on the bourses!