Power Mech Shares Rise To One-Month High On Order From BHEL
The shares of Power Mech Projects Ltd. rose to one-month high on Monday after the company secured a contract worth Rs 579 crore from Bharat Heavy Electricals Ltd. The order is for civil structural and architectural works for the 2x800 MW DVC Koderma (KTPS) Phase-II in Jharkhand.
The project involves leveling and grading of the entire power block area, including the transformer yard and flue gas desulfurisation, as well as land leasing and preparation for labour hutments. Additionally, the project includes the construction of restrooms for operation and maintenance workers and sheds for construction workers.
The project also involves the installation of various utility and support systems, including a rooftop solar system within the power block area, sewage water lines within the power generation area, and civil works for low pressure piping and firefighting systems. Moreover, the project includes the construction of pipe racks and cable racks, buried cables and wires duct civil works, and other essential infrastructure.
Power Mech is expected to complete the project in under three years. The company had won another order last month for the Koderma project.
The Hyderabad-based engineering and infrastructure-construction company has an orderbook of Rs 4,242 crore as of December quarter. It specialises in providing comprehensive services in the power sector, including erection, testing, and commissioning of power plants.
Power Mech Share Price Rises
The shares of Power Mech rose as much as 8.15% to Rs 2,347 apiece, the highest level since Feb. 1. The stock pared gains to trade 4.49% higher at Rs 2,267.45 apiece, as of 9:38 a.m. This compares to a 0.47% advance in the NSE Nifty 50 Index.
It has fallen 4,84% in the last 12 months and 16.37% year-to-date. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 68.
The one analysts tracking the company maintains a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 11.3%.
-
Unhedged Position | Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
