Multibagger from its 52-week low & FIIs bought 70,06,711 shares: EV-Charger Manufacturer & Solar Energy Stock Jumps 6.9 Per Cent
From Rs 2.70 to Rs 152.89 per share, the stock delivered multibagger returns of 5,563 per cent in 3 years.
Today, shares of Servotech Power Systems Ltd jumped 6.9 per cent to Rs 152.89 per share from its previous closing of Rs 142.99 per share. The company has a market cap of over Rs 3,300 crore. From Rs 2.70 to Rs 152.89 per share, the stock delivered multibagger returns of 5,563 per cent in 3 years.
Recently; Servotech Power Systems Ltd., India’s largest EV Charger manufacturer, has secured a substantial contract to build 11 DC Fast EV charging stations from Bangalore Electricity Supply Company Limited (BESCOM). This contract involves Servotech installing public electric vehicle (EV) charging stations at 11 Regional Transport Office (RTO) premises across Karnataka. The project will significantly enhance the charging infrastructure for electric vehicles, making it more convenient for EV owners to charge their vehicles across various regions of Karnataka. Servotech will manage the entire project execution, from planning and design to final installation. This includes developing a comprehensive plan for the installation of EV charging stations at each RTO location, ensuring optimal placement and capacity. High-quality charging stations will be manufactured, tested, and inspected to meet strict safety and performance standards. Additionally, Servotech will provide warranty support and handle all necessary electrical connections and power supply arrangements.
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About the Company
Servotech Power Systems, a trusted brand with a nationwide presence on the NSE, has over 20 years of experience in electronics. They leverage this expertise to design and manufacture cutting-edge AC and DC charging solutions for electric vehicles. Their chargers cater to both commercial and domestic applications, ensuring compatibility with a wide range of EVs. With its comprehensive engineering capabilities, Servotech is positioned to be a key player in building India's EV charging infrastructure. Backed by a history of innovation and advanced technology development, Servotech is committed to shaping the future of e-mobility in India.
In Q1FY25, FIIs bought 70,06,711 shares and increased their stake to 5.53 per cent compared to 2.45 per cent in Q4FY24. Investors should keep an eye on this multibagger EV-charging and solar energy stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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