This small-cap infrastructure company jumped on bagging orders worth Rs 720 crore
The company is an integrated power infrastructure services company.
About the Orders
Four orders totalling Rs 720 crore have been placed with Power Mech Projects. For the first order, a Government Medical College and Hospital of Rs 362 crore would be built for Uttarakhand Pey Jal Nigam in Uttarakhand. The second order is for distribution work for MPPKVVCL, Khargone Circle, Indore, Madhya Pradesh, and Railway Electrification of 25 KV OHE Works, Mysuru Division, Karnataka under the RDSS (Revamped Distribution Sector Scheme). The purchase will cost Rs 162 crore. The third order is for Rs 106 crore to complete the balance erection work and renovation of 2x525 MW Monnet Ispat, JSPL, Angul, Odisha. The fourth order is for the full seawater intake system to be operated and maintained at the 702 MW CCPP, GSPC Pipavav Power Company, Pipavav, Gujarat.
Share Price Movement of Power Mech Projects Ltd.
The scrip opened on Friday at Rs 2,475.05 and touched a high and low of Rs 2,505.70 and Rs 2,425, respectively. Its 52-week high stood at Rs 2,548.70, whereas its 52-week low was Rs 810.95. The current market cap of the company is Rs 3,685 crore. Promoters hold 64.17%, whereas the Institutional and non-institutional holdings are 15.72% and 20.10%, respectively.
One of the top infrastructure-building companies, Power Mech Projects is headquartered in Hyderabad, India and has a presence throughout the world. S. Kishore Babu, a driven engineering entrepreneur, founded the company in 1999 with the mission of providing services with the highest standards of quality, safety, and timeliness. These three principles continue to be the foundation of the business today.
The company, over the last 20 years, has worked on a variety of projects, including Ultra Mega Power Projects, Super Critical Thermal Power Projects, Sub Critical Power Projects, Heat Recovery Steam Generators, Waste Heat Recovery Steam Generators, Circulating Fluidized Bed Combustion Steam Generators, Gas Turbine Generators, Hydro Electric Projects, Operation & Maintenance of Running Plants, and Entrance Construction, in both India and abroad.
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