Latest news with #ServotechPowerSystemsLtd.
Mint
01-07-2025
- Automotive
- Mint
EV stock jumps 4% despite flat trend in the Indian stock market. Here's why
Servotech Renewable Power System share price in focus today: Shares of Servotech Renewable Power System (formerly Servotech Power Systems Ltd.), a manufacturer of EV chargers, solar products, and power backup solutions, jumped 4% on Tuesday's intraday trade to reach the day's high of ₹ 153 apiece, even as the broader Indian stock market remained subdued in trading. The action in shares came after the company announced that it had received an order from Bengaluru International Airport Limited (BIAL) to install an EV charging station with 10 ultra-fast DC EV chargers of 240 kW each at Kempegowda International Airport, Bengaluru, for airside EV operations. The charging hub, according to the company, will boast 10 ultra-fast DC EV chargers of 240 kW with a combined installed capacity of 2.4 MW. This positions the installation as the first and biggest of its kind EV charging hub for airside EV operations in an Indian airport, enabling fast turnaround times and significantly enhancing the airport's e-transport operational efficiency. "As part of the initiative, the charging station will be strategically located within the airport premises to charge electric buses used for passenger transport between terminals and aircraft and facilitate 24/7 airside EV operations, further contributing to the reduction of the airport's transport carbon emissions," the company said in Monday's exchange filing. Servotech Renewable Power System's share price has been buzzing on the Indian stock market following a series of order wins and stellar performance in the March quarter. The stock has ended the last month with a rally of 19%, marking the biggest monthly gain in the last 9 months. Though the stock has attracted the bulls in recent weeks, it is still trading 28% lower than its recent high of ₹ 205.40 apiece. Looking at the long-term performance, the stock has delivered multibagger returns in each of the last 5 years, with CY23 standing out year as it delivered a return of 382%, followed by another 117% gain in the next year, positioning it among the one of the biggest wealth creators Indian stock market. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
03-06-2025
- Business
- Mint
Why did Servotech Renewable share price jump 19% despite stock market crash? Explained
Servotech Renewable Power System share price in focus: Shares of Servotech Renewable Power System (formerly Servotech Power Systems Ltd.), a manufacturer of EV chargers, solar products, and power backup solutions, jumped 19% on Tuesday, June 3, hitting a 3-month high of ₹ 146 apiece, even as the broader Indian stock market continued to decline for the third straight session. The sharp rally in the stock followed the arrival of Errol Musk, father of billionaire Elon Musk, who owns Tesla, SpaceX, and the microblogging platform X—in India on Sunday, June 1, for a five-day visit. During his stay, Musk is expected to provide strategic advisory support to Servotech's solar and EV charging division, with the aim of 'forging partnerships for a green tomorrow.' Errol Musk is a member of Servotech's global advisory board, which guides the NSE-listed company in its mission to develop cutting-edge EV charging solutions. As part of his engagement, the company said he will tour Servotech's manufacturing facilities in India and participate in curated roundtable sessions with key government stakeholders and investor groups. Earlier in mid-May, Servotech had announced that Musk would play a central role in steering its global expansion efforts, supporting the company's 'Vision 2027'—an ambitious roadmap to transform India's renewable energy landscape and position Servotech as a sustainability leader in international markets. Musk's advisory position is expected to bring international experience and a fresh perspective to the Indian clean energy player. The company said his engagement will include a wide range of activities—from interacting with key policymakers and investors to actively participating in board-level strategic discussions. He is also expected to contribute to media outreach initiatives and promote Servotech across his personal social media platforms. The company, on May 7, announced the appointment of Errol Musk to its Global Advisory Board. Servotech Renewable Power System share price has been buzzing on Dalal Street following a series of order wins and stellar performance in the March quarter. For the March-ended quarter, the company posted a two-fold rise in net profit to ₹ 7.71 crore, driven by higher revenues. In late April, the company won a 4.1 MW on-grid solar order from the Indian Railways zone, valued at over ₹ 15 crore on April 23. Despite the stock trading at a healthy discount from its record high of ₹ 205 apiece, recorded in September 2025, it is still up by 2,200% in the last 3 years and 13,500% over the last 5 years. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
23-04-2025
- Business
- Mint
Multibagger small-cap solar stock Servotech Renewable Power Systems in focus after THIS order update; Do you own?
Servotech Renewable Power System Ltd. (formerly known as Servotech Power Systems Ltd.), a leading provider of solar energy solutions, has secured a prestigious order for a 4.1 MW on-grid rooftop solar project from the Waltair Division, East Coast Railway, situated in Visakhapatnam, Andhra Pradesh. The project is valued at ₹ 15.8 crore. Under the scope of this contract, Servotech will undertake the design, manufacturing, supply, installation, testing, and commissioning of rooftop ongrid Solar Photovoltaic (PV) plants of varying capacities across multiple sites within the waltair division. This initiative is part of the Indian Railways' broader mission to integrate renewable energy into its infrastructure and reduce its carbon footprint, reinforcing its position as a leader in sustainable transportation. Sarika Bhatia, Director, Servotech Renewable Power System Ltd., commented, 'We are delighted to have been awarded this significant 4.1 MW rooftop solar project by the Waltair Division of the East Coast Railway. This order reaffirms Servotech's position as a trusted partner in India's renewable energy landscape. We are committed to delivering best-in-class solar solutions and are proud to support Indian Railways in its journey towards cleaner and greener operations.' This win strengthens Servotech's growing portfolio in the public sector and showcases its capabilities in executing large-scale solar projects with high-quality standards and efficiency. Servotech Renewable Power System Limited (Formerly known as Servotech Power Systems Ltd.) is an NSE-listed organization that develops tech-enabled EV Charging solutions leveraging their over two decades of experience and expertise in the electronics space. It offers extensive range of AC and DC chargers which are compatible with different Electric Vehicles and serve multiple applications such as commercial and domestic. First Published: 23 Apr 2025, 09:23 PM IST
