Servotech Power Systems Empowers Consumers with Subsidized Solar Solutions, Enrolled with 62 DISCOMs under PM Surya Ghar Muft Bijli Yojana
From Rs 2.52 to Rs 145.65 per share, the stock delivered multibagger returns of 5,680 per cent in 3 years.
Today, shares of Servotech Power Systems Ltd rocketed 8.51 per cent and made an all-time high of Rs 145.65 per share from its previous closing of Rs 134.23 per share. The company has a market cap of over Rs 3,200 crore. From Rs 2.52 to Rs 145.65 per share, the stock delivered multibagger returns of 5,680 per cent in 3 years.
Servotech Power Systems Ltd., a leading manufacturer of solar solutions and EV chargers, has expanded its reach significantly by enrolling with 62 DISCOMs across India under the Pradhan Mantri-Surya Ghar Mufti Bijli Yojana. This strategic move not only solidifies Servotech's position in the renewable energy sector but also directly benefits consumers by enabling them to avail government subsidies when purchasing solar solutions from the company.
The PM Surya Ghar Muft Bijli Yojana, aimed at solarizing households and promoting green growth, has received tremendous traction, with over 1.28 crore registrations and 14 lakh applications. Servotech's enrollment with DISCOMs under this scheme will further amplify its impact by making sustainable energy solutions more accessible and affordable for a wider audience. Servotech's extensive range of high-quality solar solutions, coupled with its commitment to innovation and customer satisfaction, positions it as a trusted partner for individuals and businesses seeking to transition to renewable energy. By collaborating with DISCOMs across multiple states, Servotech is playing a pivotal role in accelerating India's energy transition and contributing to a greener, more sustainable future.
"We are thrilled to partner with DISCOMs and contribute to the government's vision of a solar-powered India," said Sarika Bhatia, Director of Sales, Servotech Power Systems Ltd. "This enrolment allows us to leverage our expertise in solar solutions to empower individuals and communities to embrace clean energy, reduce their carbon footprint, and achieve long-term cost savings. The overwhelming response to the PM Surya Ghar Muft Bijli Yojana is a testament to the nation's growing awareness and commitment to sustainable practices. We are proud to be at the forefront of this transformative journey", added Sarika Bhatia.
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. 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.
Also Read: Rs 1,35,000 crore order book: President of India-backed heavy electrical equipment company bags new orders worth Rs 11,000 crore from Adani Group