Shares of this integrated power infrastructure company close up by 8% after receiving orders worth Rs 1,034 crore

Shares of this integrated power infrastructure company close up by 8% after receiving orders worth Rs 1,034 crore

by 5paisa Research Team Last Updated: Dec 27, 2022 - 10:55 am 5.5k Views

The shares of this company gave more than 125% returns in the last 6 months

Power Mech Projects informed in the exchange filing that it has received three separate orders worth Rs 1,034.13 crore. The first order is for the Adani Group to equip its 600 MW to 685 MW thermal power facilities at Mahan (Madhya Pradesh), Raigarh (Chhattisgarh), and Raipur (Chhattisgarh) with a Flue Gas Desulphurization (FGD) System for a total of Rs 608.00 crore.

The second order is for the establishment of a waggon repair shop in EPC mode in Kazipet, Telangana. The order is for Rs 306.60 crore. Power Mech-Taikisha JV, a joint venture between Power Mech Projects and Taikisha Engineering India, has been given this project (with 65.83 and 34.17 sharing).

At the Dangote Petroleum Refinery and Petrochemicals Project in Lagos, Nigeria, the third order is for the provision of technical expertise, rotary technicians, and operation and maintenance services for CPP and related utilities, including central control rooms for 8 x 34.5 MW. This project's contract has a 24-month term. The purchase will cost Rs 119.53 crore.

Power Mech Projects is engaged in the business of engineering and construction which provides services in the erection, turbines and generators and balance of plant and civil works.

Today, the stock opened at Rs 1800.05, with a high and low of Rs 1981.00 and Rs 1800.05. The stock closed trading today at Rs 1964.35, up by 6.60%.

In the last six months, the shares of the company have given more than 125% returns and on a YTD basis, the stock has given more than 100% returns.

The stock has a 52-week high of Rs 2410.00 and a 52-week low of Rs 805.15. The company has a ROCE of 17.8% and an ROE of 14.4%, with a market capitalisation of Rs 2928.13 crore.

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