Latest news with #ServotechRenewablePowerSystem
Mint
18 hours ago
- 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.
NDTV
6 days ago
- Business
- NDTV
Elon Musk's Father Errol To Visit Ram temple In Ayodhya In June: Report
New Delhi: Errol Musk, the father of billionaire Elon Musk, who has joined the global advisory board of homegrown Servotech, will visit the Ram temple in Ayodhya during his India tour in June, according to industry sources. Errol has scheduled to attend various business-related meetings during his India visit. His five-day India tour will start from June 1 to June 6, when he will leave for South Africa. "(Errol) Musk's itinerary is packed with events aimed at promoting India's strategic push to become a global leader in green technologies and EV charging infrastructure exports," people in the know of the development said. Musk, who will arrive in the national capital on June 1, will meet policymakers, investors, business leaders, and senior bureaucrats from various ministries at a company event on June 2. His trip also includes a visit to Servotech's solar and EV charger manufacturing unit in Safiabad, Haryana, where state ministers and bureaucrats are also expected to be present, according to sources. "Musk will also visit Ram Janmabhoomi Ayodhya Ram Mandir to seek blessings from Shree Ram Lalla, reflecting his engagement with India's cultural and spiritual heritage," they said. On World Environment Day, June 5, Servotech will organise a significant plantation drive as part of Musk's visit, to emphasise sustainability and a greener environment. He will leave for South Africa on June 6. On May 5, Servotech Renewable Power System announced the appointment of entrepreneur and global business strategist Errol Musk to its Global Advisory Board. Musk, renowned for his contributions to the fields of technology, infrastructure, and sustainable development, will provide strategic advisory support to Servotech's leadership team, it said. As part of his engagement, Musk will "participate in a tour of (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Mint
27-05-2025
- Business
- Mint
Errol Musk to visit Ram temple in Ayodhya in June: Sources
New Delhi, Errol Musk, the father of billionaire Elon Musk, who has joined the global advisory board of homegrown Servotech, will visit the Ram temple in Ayodhya during his India tour in June, according to industry sources. Errol has scheduled to attend various business-related meetings during his India visit. His five-day India tour will start from June 1 to June 6, when he will leave for South Africa. " Musk's itinerary is packed with events aimed at promoting India's strategic push to become a global leader in green technologies and EV charging infrastructure exports," people in the know of the development said. Musk, who will arrive in the national capital on June 1, will meet policymakers, investors, business leaders, and senior bureaucrats from various ministries at a company event on June 2. His trip also includes a visit to Servotech's solar and EV charger manufacturing unit in Safiabad, Haryana, where state ministers and bureaucrats are also expected to be present, according to sources. "Musk will also visit Ram Janmabhoomi Ayodhya Ram Mandir to seek blessings from Shree Ram Lalla, reflecting his engagement with India's cultural and spiritual heritage," they said. On World Environment Day, , Servotech will organise a significant plantation drive as part of Musk's visit, to emphasise sustainability and a greener environment. He will leave for South Africa on June 6. On May 5, Servotech Renewable Power System announced the appointment of entrepreneur and global business strategist Errol Musk to its Global Advisory Board. Musk, renowned for his contributions to the fields of technology, infrastructure, and sustainable development, will provide strategic advisory support to Servotech's leadership team, it said. As part of his engagement, Musk will "participate in a tour of Servotech's manufacturing facilities in India. He will engage with key government and investor groups through curated roundtable sessions". This article was generated from an automated news agency feed without modifications to text.
Time of India
07-05-2025
- Business
- Time of India
Servotech Renewable Power System net profit doubles to ₹7.71 cr in Q4, ET EnergyWorld
Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETEnergyworld App Get Realtime updates Save your favourite articles Scan to download App New Delhi: Servotech Renewable Power System has posted a two-fold rise in net profit to ₹7.71 crore in the March quarter, driven by higher revenues. It had reported ₹3.45 crore net profit in the January-March period of the preceding 2023-24 financial year, the company said in a filing on company's revenues increased 8 per cent to ₹147.46 crore in the fourth quarter from ₹136.65 crore in the same period last the entire FY25, total revenue increased by 91 per cent to ₹676.80 crore from ₹355.26 crore in Bhatia, Managing Director, Servotech Renewable Power System said, "We have recorded robust growth, underpinned by our efforts to strengthen India's EV charging infrastructure and expand access to clean solar energy . These results reinforce our position as a frontrunner in the green energy transition and reflect the growing trust in our vision and capabilities."The company aims to ramp up domestic manufacturing, scaling up innovations and taking the Made in India solutions to international markets, he Renewable Power Systems on Monday announced the appointment of entrepreneur and global business strategist Errol Musk--father of billionaire Elon Musk, who owns Tesla, SpaceX, and the microblogging platform X -- to its Global Advisory part of his engagement, Musk will participate in a tour of Servotech's manufacturing facilities in India. He will engage with key government and investor groups through curated roundtable Renewable Power System Ltd is an NSE-listed company that develops tech-enabled EV charging solutions.
India.com
07-05-2025
- Business
- India.com
Net profit of This company witnesses a massive growth, doubles to Rs 7.71 crore in Q4
शेयर बाजार भी पाकिस्तान से कई गुना बड़ा Servotech Renewable Power System has posted a two-fold rise in net profit to Rs 7.71 crore in the March quarter, driven by higher revenues. It had reported Rs 3.45 crore net profit in the January-March period of the preceding 2023-24 financial year, the company said in a filing on Wednesday. The company's revenues increased 8 per cent to Rs 147.46 crore in the fourth quarter from Rs 136.65 crore in the same period last fiscal. For the entire FY25, total revenue increased by 91 per cent to Rs 676.80 crore from Rs 355.26 crore in FY24. Raman Bhatia, Managing Director, Servotech Renewable Power System said, 'We have recorded robust growth, underpinned by our efforts to strengthen India's EV charging infrastructure and expand access to clean solar energy. These results reinforce our position as a frontrunner in the green energy transition and reflect the growing trust in our vision and capabilities. ' The company aims to ramp up domestic manufacturing, scaling up innovations and taking the Made in India solutions to international markets, he said.
