Latest news with #Vision2027
Mint
4 days 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.
Mint
19-05-2025
- Automotive
- Mint
Servotech Renewable shares rise 4.5% on reports of Elon Musk's father Errol Musk's factory visit in June
Shares of Servotech Renewable Power Systems saw strong upward momentum on Monday, May 19, rising by as much as 4.5 percent during intraday trading. The uptick followed reports that Errol Musk—the father of Tesla and SpaceX CEO Elon Musk—is planning a visit to India between June 1 and June 6, during which he is expected to tour Servotech's manufacturing facility. The visit is linked to his recent appointment to the Global Advisory Board of the company, which has fueled fresh investor optimism. Servotech Renewable Power Systems, which focuses on renewable energy and electric vehicle (EV) charging solutions, formally announced Musk's appointment last week. As per the company's official press release, Errol Musk will play a central role in guiding Servotech's global expansion, helping the firm achieve its 'Vision 2027'—an ambitious roadmap that aims to transform the renewable energy ecosystem in India and establish Servotech as a sustainability leader in key 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 that 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. Commenting on the development, Raman Bhatia, Managing Director of Servotech Renewable Power Systems, said, 'We are absolutely thrilled and honored to welcome Errol Musk to the Servotech Renewable family. His vast experience, profound global insights, and unwavering passion for groundbreaking innovation will be invaluable as we accelerate our mission to forge a greener, smarter future for India and beyond.' The announcement of Errol Musk's engagement with Servotech comes at a significant time. His visit is expected just months ahead of Elon Musk's anticipated trip to India later this year. Elon had earlier held a virtual meeting with Indian Prime Minister Narendra Modi, sparking speculation about Tesla's plans to enter or expand in the Indian EV space. In addition to the buzz surrounding Errol Musk's involvement, Servotech's business momentum appears to be strengthening. In April, the company revealed it had secured a rooftop solar order from the Waltair Division of the Indian Railways' East Coast Railway zone. The ₹ 15 crore contract involves a 4.1 MW on-grid solar installation, covering multiple sites. Under the scope of the agreement, Servotech will handle the design, supply, installation, testing, and commissioning of rooftop solar photovoltaic (PV) systems. The order aligns with Indian Railways' broader efforts to green its operations and reduce its carbon footprint by integrating renewable energy solutions across its infrastructure. From a stock performance standpoint, Servotech Renewable Power Systems has delivered notable returns over the past year. The stock has risen nearly 48 percent over the last 12 months and gained another 5 percent so far in May. This follows a modest 0.4 percent dip in April, and a strong 9 percent rally in March. However, the stock did experience significant declines earlier in the year, falling 24.6 percent in February and 10.7 percent in January. Despite these fluctuations, the long-term trajectory remains impressive. Over the past three years, Servotech's stock has delivered a staggering 1,200 percent return, marking it as a true multibagger in India's smallcap renewable energy space. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India Gazette
09-05-2025
- Business
- India Gazette
Gujarat shines at India Pavilion in World Expo 2025, attracts daily average of 11,000 visitors
Gandhinagar (Gujarat) [India], May 9 (ANI): The Gujarat Zone within the India Pavilion has made a significant impact at the World Expo. From the opening day on May 4 until May 8, the zone has attracted an impressive daily average of 11,000 visitors, reflecting strong global interest in Gujarat's offerings, according to an official press release. Under the visionary leadership of Prime Minister Narendra Modi and the guidance of Chief Minister Bhupendra Patel, Gujarat continues to make remarkable strides in development and has firmly established itself as a progressive and globally recognised state, reads the release. The state's rich history and vibrant culture have captivated people across the world. This global admiration was reflected at the World Expo 2025 in Osaka, Japan, where international visitors showed great enthusiasm for Gujarat's cultural showcase, the release stated. The World Expo 2025 is held in Osaka, Japan, from May 4 to May 17. The Government of Gujarat has taken a strategic and culturally rich approach by sending a delegation to showcase the state's strengths in trade, culture, and tourism. The delegation, led by iNDEXTb (Industrial Extension Bureau), reflects Gujarat's commitment to global engagement and innovation. Principal Secretary of the Industries and Mines Department of the Government of Gujarat, Mamta Verma, stated, 'At such a large platform, we have presented the modernised, urbanised and tech-savvy Gujarat on the lines of Vision 2027. We have added a blend of our culture with performances to create a larger impact, touching the hearts of Japan and the visitors from across the world.' Swaroop P., Industries Commissioner and Chairman, iNDEXTb said, 'It gives me immense pleasure to see how technology and culture have created a modern and progressive image of Gujarat as a state and an important contributor to Bharat amongst the global audience. I would like to thank our partners, DPIIT, ITPO, and CGI, Osaka, for their support. The Gujarat Zone, representing the state, possesses unique features to captivate global audiences. It presents several highlights, including artefacts and books showcasing Gujarat's rich history and its cultural ties with Japan, including a Japanese edition of the Shrimad Bhagavad Gita. Immersive Artificial Intelligence and Virtual Reality at the Gujarat Zone experiences offering a real-time glimpse into Gujarat's tourism, cultural heritage, and traditional attire. A QR code-enabled 3D model illustrating Gujarat's progress in wind energy, semiconductors, smart cities, advanced infrastructure, and logistics, reflecting its role in nation-building, is also displayed at the Gujarat Zone. A cultural troupe presenting traditional dance forms that celebrate the vibrant heritage of Gujarat is also on a display. Promotional films highlighting Gujarat's potential in tourism, trade, and investment, inviting global businesses and travellers to explore opportunities in the state is being showcased. The Gujarat Zone has emerged as a major attraction at the World Expo 2025. Between May 4 and May 8, the zone recorded an impressive daily footfall of around 11,000 visitors within the India Pavilion. Among them were delegates from other participating countries, local Japanese residents, and several high-level dignitaries and prominent personalities. The strong response has also garnered significant attention from Japanese media, which has extensively covered both the Gujarat Zone and the India Pavilion. Visitors have responded with great enthusiasm to Gujarat's cultural performances, with many eager to capture moments alongside traditional dance artists. The vibrant shows and workshops have consistently drawn full-house audiences, especially during the evenings, creating a festive and immersive atmosphere at the pavilion. Innovative attractions such as AI-powered photo booths and immersive virtual reality experiences have also captivated large crowds. Long queues were seen at these tech-driven zones, where visitors explored Gujarat's tourism and heritage in an engaging, futuristic format. QR code-enabled displays offered detailed insights into the origin and history of various artworks, adding an interactive and educational layer to the exhibits. Children and youth have shown keen interest in exploring the 3D model up close, while professionals are using the QR code on the model to access detailed information and insights. (ANI)
Time of India
05-05-2025
- Business
- Time of India
Servotech Renewable Power System appoints Errol Musk to global advisory board
Mumbai: Servotech Renewable Power System, a India-based manufacturer and supplier of energy solutions , on Monday announced the appointment of distinguished entrepreneur and global business strategist Errol Musk to its global advisory board . According to the official press release, under this partnership, Musk will play a pivotal role in advancing the company's strategic vision for global growth, sustainability leadership , and AI-driven innovation . It added that his appointment aligns with the company's ambitious ' Vision 2027 ' goal to transform the renewable energy landscape across India and key international markets. 'Errol Musk, renowned for his contributions to the fields of technology, infrastructure, and sustainable development, will provide strategic advisory support to the firm's leadership team. His mandate includes guiding high impact media engagement, investor relations, and government interface programmes,' said the press release. It added that as part of his engagement, Musk will participate in a tour of the company's manufacturing facilities in India. Engage with key government and investor groups through curated roundtable sessions. Attend quarterly Global Advisory Board meetings. Contribute to media activations and press interactions highlighting the company's innovation leadership. He will be promoting the company across his official social media platforms. 'We are absolutely thrilled and honored to welcome Errol Musk to the Servotech Renewable family. His vast experience, profound global insights, and unwavering passion for groundbreaking innovation will be invaluable as we accelerate our mission to forge a greener, smarter future for India and beyond,' said Raman Bhatia, Managing Director of Servotech Renewable Power System. Musk will officially commence his advisory role with immediate effect, with his first India visit and strategic engagements scheduled over the coming months, added the release.
Mint
05-05-2025
- Business
- Mint
Servotech Power Systems share: 5000% rally in five years! EV stock jumps 5% after this corporate update
Servotech Power Systems share price surged over 5% on Monday's session following the company's announcement regarding the inclusion of prominent entrepreneur and worldwide business strategist Errol Musk on its Global Advisory Board. The company announced in an exchange filing that, Musk will play a key role in promoting Servotech's strategic vision for global expansion, leadership in sustainability, and innovation powered by AI. His appointment is in line with Servotech's ambitious "Vision 2027" objective to revolutionize the renewable energy sector in India and significant international markets. Errol Musk, acclaimed for his contributions in technology, infrastructure, and sustainable development, will offer strategic advisory support to the leadership team at Servotech. His responsibilities include overseeing impactful media relations, managing investor connections, and facilitating government engagement initiatives. Musk will begin his advisory position right away, with his initial visit to India and strategic meetings planned for the next few months. "We are absolutely thrilled and honored to welcome Errol Musk to the Servotech Renewable family. His vast experience, profound global insights, and unwavering passion for groundbreaking innovation will be invaluable as we accelerate our mission to forge a greener, smarter future for India and beyond. This partnership marks a significant milestone in our journey, and we are confident that Mr. Musk's strategic guidance will be instrumental in realizing our ambitious 'Vision 2027' and establishing Servotech as a global leader in sustainable energy solutions," said Raman Bhatia, Managing Director of the firm. First Published: 5 May 2025, 01:23 PM IST
