The shares of Servotech Renewable Power System soared nearly 5% in the Intraday trade on Monday amid rally in domestic stock market. The today's gain in the renewable energy sector stock was fueled by company's deciosn to appoint Errol Musk to its Global Advisory Board. At around 1:07 pm, the Servotech shares were trading at Rs 127.35, up 4.52% against previous day's closing price.

The stock opened with a solid gap-up at Rs 124.50 per share on NSE against the previous day's closing price of Rs 121.84, and extended the gain further to hit an intraday high at Rs 128.48 per share till the above-mentioned time.

The scrip soared over 4,000% in the last 5 years, and in the last 12 months it surged over 46%. However, this year till the date, the stock suffered a correction of over 24%.

Company Appoints Errol Musk to Advisory Board

Servotech Renewable Power System Ltd, smart power solutions and EV Chargering said in exchange filing that it has appointment Errol Musk to its Global Advisory Board, an entrepreneur and global business strategist.

"Under this landmark partnership, Musk will play a pivotal role in advancing Servotech's strategic vision for global growth, sustainability leadership, and AI-driven innovation. His appointment aligns with Servotech's ambitious "Vision 2027" goal to transform the renewable energy landscape across India and key international markets," said the company in an exchange filing.

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The leadership team of Servotech will receive strategic advisory support from Errol Musk, who is well-known for his contributions to the domains of technology, infrastructure, and sustainable development. His responsibilities include overseeing government interface initiatives, investor relations, and high-impact media engagement, said the filing.

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Disclaimer: This is just a piece of information about recent development in the stock. Jagran does not advise investing, Please do take expert opinion before investing. 


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