Rs 53,500 crore order book and FIIs & DIIs increase stake: This multibagger construction stock bags Rs 644.91 crore order from RVNL and NUPPL!
Shares of this company have given about 40 per cent returns in the last six months.
Power Mech Projects Limited rocketed 4 per cent today, reaching a 52-week high fueled by heavy buying and a flurry of new orders totaling Rs. 644.91 crore. The star of the show is a massive Rs. 381.34 crore contract from Rail Vikas Nigam Limited for constructing the Yavatmal-Nanded railway line in Maharashtra, solidifying Power Mech's grip on the critical railway infrastructure sector.
This project involves a 46-kilometer stretch of roadbeds, bridges, stations, and more. Adding to the momentum is a Rs. 263.57 crore order from Neyveli Uttar Pradesh Power Limited for O&M services at their Ghattampur Thermal Power Project. With these wins, Power Mech is powering ahead in both the infrastructure and energy sectors.
The company has a healthy order book of around Rs. 53,500 crores and is targeting an order inflow of Rs. 10,000 crores in FY2023-24, focusing on power projects, O&M, water projects, railways, and metros.
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. FIIs and DIIs increased their stake in the company in December 2023 respectively.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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