Power Mech Projects rises on getting LoI for two projects worth Rs 725.17 crore

Power Mech Projects is currently trading at Rs. 997.80, up by 2.20 points or 0.22% from its previous closing of Rs. 995.60 on the BSE.

The scrip opened at Rs. 993.00 and has touched a high and low of Rs. 1025.55 and Rs. 987.05 respectively. So far 2730 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1094.70 on 18-Oct-2021 and a 52 week low of Rs. 361.20 on 14-Nov-2020.

Last one week high and low of the scrip stood at Rs. 1032.65 and Rs. 974.15 respectively. The current market cap of the company is Rs. 1468.21 crore.

The promoters holding in the company stood at 63.70%, while Institutions and Non-Institutions held 11.88% and 24.42% respectively.

Power Mech Projects has received Letter of Intent (LOI) for two projects worth Rs 725.17 crore. The company has received order for four laning of NH-365A from Kodad (Design Km 0.00/Existing Km 185.00 of NH-65) to Khammam (Design Km 31.800/Existing Km 29.400) (Design Length = 31.800 Km) in the State of Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode for NHAI for Rs 645.00 crore.

The company has also received order for Design, Engineering, Procurement, Manufacture/Fabrication of Coal Handling plant at Talabira II & III mine at Sambhalpur Dist.,Jharsuguda, Odisha for HOWE of Rs 80.17 crore.

Power Mech Projects is an integrated power infrastructure services company. The Company’s operations include three business lines: Erection Works, Operation & Maintenance (O&M) Services and Civil Works.

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