Power Mech Projects gains 7% on orders win worth Rs 381 crore
Shares of Power Mech Projects advanced 7.2 percent intraday Tuesday on the back of orders win worth Rs 381 crore.
The company has received letter of award, letter of intent/work orders worth Rs 381 crore.
The company’s 51 percent subsidiary Mas Power Arabia has bagged contract of Rs 72 crore in Saudi Arabia and received Rs 125 crore contract for civil and architectural works at coal handling plant and BOP building area at 4×270 MW Bhandradri Thermal Power Station at Telengana.
It also received contract of Rs 4 crore of welding work at Jebel Ali Power station, UAE.
The company has got supply of good and service package for Assam State associated for a total contract value of Rs 35 crore and Rs 21 crore.
It has bagged two substation package for a contract price of Rs 51 crore and Rs 48 crore.
It got contract of Rs 25 crore for erection services of STG and its auxlliaries for Hardaugunj thermal power projects at Aligarh district, UP.
At 12:32 hrs Power Mech Projects was quoting at Rs 788.90, up Rs 39.35, or 5.25 percent on the BSE.
Posted by Rakesh Patil