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Servotech Renewable skyrockets 14% on this deal win; check key details here
At 11:25 AM, Servotech Renewable share was trading 11.57 per cent higher at ₹164.30 per share. In comparison, Nifty50 was trading 0.2 per cent higher at 24,591.50 level.
What triggered an upward rally in Servotech Renewable shares today?
Shares of Servotech Renewable surged after the company secured an order for a 7.8 MW grid-connected solar rooftop project from the Rangiya Division of the Northeast Frontier Railway.
The contract, worth ₹33.6 crore, includes a comprehensive 5-year Annual Maintenance Contract (AMC) across various buildings within the division.
Servotech Renewable said the project will boost the railway's sustainability initiatives by reducing its carbon footprint through clean energy generation.
'This prestigious project underscores Servotech's expertise and growing presence in India's renewable energy sector, particularly within large-scale infrastructure development,' Servotech Renewable said, in a statement.
"We are immensely proud to partner with the Northeast Frontier Railway on this crucial solar rooftop project. This order is a testament to Servotech's capabilities in delivering high-quality, reliable, and sustainable solar energy solutions. We are committed to supporting India's transition towards a greener future, and projects like these are vital in achieving that goal. Our comprehensive AMC/CAMC will also ensure the long-term efficiency and performance of the solar installations," said Sarika Bhatia, director, Servotech Renewable Power System.
About Servotech Renewable Power System
Servotech Renewable Power System Limited, formerly Servotech Power Systems Ltd., is an NSE-listed company specialising in advanced EV charging solutions.
Leveraging its strong engineering capabilities, Servotech Renewable aims to be a key enabler in building and strengthening India's electric vehicle infrastructure.
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