**Servotech Share Price: A Steady Rise in Business**
๐ Servotech Power Systems Limited’s shares were trading at Rs. 86.30 with a 5% increase during Tuesday’s trading session.
๐ However, the company’s shares hit an upper circuit yesterday.
๐ The main reason for the surge in share prices is the recent order of Rs. 120 crore received by Servotech Power Systems Limited.
๐ On Wednesday, 31st January 2024, the company’s shares were trading at Rs. 90.60, marking a 4.98% increase.
๐ On Thursday, 1st February 2024, the shares further increased by 4.86% and were trading at Rs. 95.0.
๐ฃ In a communication to the Securities and Exchange Board of India (SEBI), Servotech Power Systems Limited announced a significant order from Bharat Petroleum Corporation Limited (BPCL).
๐ฃ BPCL has awarded Servotech Power Systems Limited a contract worth Rs. 120 crore for the installation of 1800 DC Fast EV Chargers.
๐ Under this order, Servotech Power Systems Limited is responsible for production, supply, and installation services.
โก BPCL plans to set up 1800 EV chargers on various petrol pumps across India as part of its e-drive project.
๐ฐ Over the past year, Servotech Power Systems Limited has provided its shareholders with a remarkable return of 254%.
๐ฐ A year ago, the company’s shares were trading at Rs. 24. Currently, the shares are trading at Rs. 90.
๐ The 52-week high for the company’s shares was Rs. 100, while the lowest level was Rs. 16.48.
๐ผ The total market capitalization of the company stands at Rs. 1,83,520.65 crore.
๐ Bharat Petroleum Corporation Limited (BPCL) has reported strong earnings for the October-December quarter of the fiscal year 2023-24.
๐ BPCL witnessed a significant increase in profitability due to higher refining margins and sales of fuel.
๐ฐ In the December quarter of 2022-23, BPCL recorded a net profit of Rs. 1,747.01 crore.
๐ฐ The company had also posted a net profit of Rs. 8,243.55 crore in the July-September quarter of 2023.
With a steady rise in share prices and a robust order book, Servotech Power Systems Limited is poised for further growth in the market. Investors can expect promising returns from the company.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
