EV-Charger Manufacturer & Solar Solution Provider Stock - Servotech Hits Upper Circuit On October 01
From Rs 2.49 to Rs 192.73 per share, the stock delivered multibagger returns of 7,640 per cent in 3 years.
Today, shares of Servotech Power Systems Ltd locked in a 5 per cent upper circuit to Rs 192.73 per share from its previous closing of Rs 183.57 per share. The stock’s 52-week high & all-time high is Rs 205.40 per share. The company has a market cap of Rs 4,296 crore. From Rs 2.49 to Rs 192.73 per share, the stock delivered multibagger returns of 7,640 per cent in 3 years.
Servotech Power Systems Limited has announced plans to increase its authorized share capital to Rs 50 crore and issue 58,50,000 warrants convertible into equity shares to Ms Sarika Bhatia, a member of the Promoters Group. The issuance of warrants is subject to the approval of the members through a postal ballot. If all the warrants are converted, Ms Bhatia's ownership in the company will increase from 13.50 per cent to 15.52 per cent.
In addition to the capital restructuring, Servotech has secured a significant contract to build 11 DC Fast EV charging stations in Karnataka. These charging stations will be installed at 11 Regional Transport Office (RTO) premises, providing a much-needed boost to the state's electric vehicle charging infrastructure. Servotech will be responsible for the entire project execution, from design and manufacturing to installation and maintenance. This contract is a testament to the company's expertise in the field of electric vehicle charging solutions.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
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. The stock gave multibagger returns of 177.3 per cent from its 52-week low of Rs 69.50 per share. 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.