• Source:JND
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The share price of Servotech Renewable Power System continued the bullish rally on Tuesday as it surged by more than 14% in early trading on the BSE after the company announced an order win of Rs 33.6 crore. In the early trade, the small-cap stock jumped 14.42% to reach an intraday high of Rs 168.50 after opening at Rs 150.40, down from its previous close of Rs 147.26. The small-cap renewable energy sector stock was up 13.40 per cent at Rs 167 at around 10:20 AM.

Rs 33.6 crore order for Servotech Bags

The company announced on June 3 that it had obtained an order for a grid-connected solar rooftop project worth Rs 33.6 crore from the RNY Division.

"We are pleased to inform all our stakeholders that the Company has secured a prestigious order for a 7.8MW Grid-connected solar rooftop project from the Rangiya Division of the Northeast Frontier Railway," the company said in an exchange filing.

A grid-connected rooftop solar power plant comprising a monocrystalline panel, an inverter, and a remote monitoring system (SIM) at multiple Rangiya Division locations is to be designed, supplied, installed, tested, and put into service. A thorough five-year annual maintenance contract (AMC) is also included in the order.

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Stock Performance

According to data, over the past five years, the share price of Servotech Renewable Power System has increased by a staggering 6,500%. The stock has increased by roughly 110 per cent in the past year, reaching a 52-week high of Rs 205.40 on September 26 and a 52-week low of Rs 75.50 on June 5. The stock has risen more than 34% in just three June sessions.

Disclaimer: This is just a piece of news about recent developments in the stock. Jagran does not advise investing. Please take the expert's opinion before investing.