The shares of Power Mech Projects Limited rallied 5.83% to a session high of ₹2,720 on Wednesday as the company won a work order worth ₹294 crore from Adani Power.
The Adan Group company placed the order for the overhauling services, conditioning assessment, erection, testing, commissioning as well as manpower assistance for the performance guarantee test of the steam generator, steam turbine generator and its auxiliaries for Units 3 and 4 of the 2x660 MW Korba Phase II thermal power project.
The order is scheduled to be completed within 12 months for the Unit 3 of steam generator while the timeline for Unit 4 is within 18 months. The order value is exclusive of the applicable Goods and Services Tax (GST) and an indicative amount of ₹1.25 crore per unit after achieving the synchronisation within the stipulated time mentioned.
In an exchange filing, the company said, “We are delighted to announce that our Company has secured a ₹294 Crore (excluding GST and an incentive amount of Rs 1.25 crore per unit after achieving the Synchronization within stipulated time) order from Adani Power Limited (APL) for Overhauling services, condition assessment, Erection, Testing, Commissioning and manpower assistance for Performance Guarantee Test of Steam Generator (SG) and Steam Turbine Generator (STG) and its Auxiliaries for Unit 3 and 4 of 2x660 MW Korba Phase-II Thermal Power Project.”
Power Mech Projects is an Indian company offering integrated power infrastructure services, specializing in the erection, testing, and commissioning of boilers, turbines, and generators (ETC-BTG), as well as balance of plant (BOP) works, civil construction, and operation and maintenance (O&M) services. The company operates across three key business verticals—Erection Works, Operation & Maintenance Services, and Civil Works—providing comprehensive, end-to-end solutions for the power and infrastructure sectors.
At 3 PM on Wednesday, the stocks of Power Mech Projects Limited were trading at ₹2,700.45 per share, marking a 5.07% uptick, as compared to the previous close of ₹2,570.05 on the National Stock Exchange (NSE).
Summary:
Power Mech Projects Limited’s shares rallied 5.83% on Wednesday as the company won a work order worth ₹294 crore from Adani Power.
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