Rs 20 Crore Order Win: EV-Charger Manufacturer Received an Additional Order of Approx 400 Units of DC Fast EV Chargers from BPCL & Other OEMs
The project valued at around Rs 20 crore will involve manufacturing, supplying, installing, and deploying these chargers nationwide, particularly at BPCL petrol pumps as part of the BPCL E-drive Project.
Servotech Power Systems Ltd, a leading manufacturer of EV chargers and solar solutions has received an additional order of approx. 400 units of DC Fast EV Chargers from Bharat Petroleum Corporation Limited (BPCL) and other EV charger OEMs. The project valued at around Rs 20 crore will involve manufacturing, supplying, installing, and deploying these chargers nationwide, particularly at BPCL petrol pumps as part of the BPCL E-drive Project.
Previously, the company received an order for 1800 DC Fast EV chargers from BPCL and other EV charger OEMs valued at Rs 120 crore. which they have now increased by 20 per cent. This increase comes as a result of the company’s timely deliveries and consistent performance. Servotech has already completed 35 per cent of the dispatches on time and has met 100 per cent of their requirements as per their plan. Recognizing Servotech's dedication and proven track record, BPCL placed an order with the company.
Earlier, in a move to expand India's electric vehicle (EV) infrastructure and combat climate change, INCHARZ, a leading EV charging company partnered with Prateek Group, a real estate developer, to install public EV charging stations at Prateek Group's properties. This collaboration will provide convenient charging access to building occupants, residents, visitors, and nearby EV owners. Prateek Group will designate locations for the stations, while INCHARZ will handle the entire process from design and installation to operation and maintenance. The charging stations will include AC and DC options at various capacities to cater to two, three and four-wheeled EVs, ensuring a user-friendly experience for all. This initiative is expected to significantly boost India's e-mobility landscape by creating a reliable and robust EV charging network.
Today, shares of Servotech Power Systems Ltd gained 4.40 per cent to Rs 129 per share from its previous closing of Rs 123.47 per share. The stock’s 52-week high of Rs 129.81 while its 52-week low of Rs 69.50 with a market cap of over Rs 2,800 crore. From Rs 2.13 to Rs 129 per share, the stock delivered multibagger returns of 5,956 per cent in 3 years.
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About Servotech Power Systems Ltd
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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