The shares of Servotech Renewable Power System zoomed up to 3% in early trade after the renewable energy sector company bagged a 4.1 MW
on-grid rooftop solar project from the Waltair Division, East Coast Railway. The project is valued at Rs 15.8 crore, which includes design, manufacturing, supply, installation, testing and commissioning of rooftop on-grid solar photovoltaic plants of varying capacities.

Servotech shares started day trade flat at Rs 129.80 per share on NSE and soared nearly 3% to hit an intraday high at Rs 134.49 in the opening hours. However, the stock erased some of its gain due to selling pressure, it was trading at Rs 131.20, up 1.10% against the opening and previous day's closing price of Rs 129.80. Meanwhile, the 52-week high and low values of the scrip were Rs 205.40 and Rs 75.50, respectively.

"Under the scope of this contract, Servotech will undertake the design, manufacturing, supply, installation, testing, and commissioning of rooftop on-grid 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," the company said in its exchange filing.

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Servotech Shares Jump Over 5,000% In 4 Years

Shares of Sarvotech Renewable Power System soared over 5,000% in less than four years. The scrip was at the level of Rs 2.52 per share on 3 September 2021, and currently, it is trading over the Rs 130 per share mark. The stock zoomed nearly 1,200 per cent in the last three years. At the same time, in the last year, the company's shares have seen a rise of over 50%. However, this year to date, the shares of Servotech Power experienced a correction of over 21%.

Stock Split

Sarvotech Renewable Power System Limited has split its shares twice (stock split). In February 2023, the company split its shares into 5 parts. The company split shares with a face value of Rs 10 into 5 shares with a face value of Rs 2. After this, Sarvotech Renewable Power split shares with a face value of Rs 2 into 2 shares with a face value of Rs 1 in July 2023 itself.

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Disclaimer: This is just a piece of information about recent developments in stocks. Jagran does not advise investing. Please do take the expert's opinions before investing.