Power Mech shares rises after securing order from NHAI worth Rs 972.135 crore
The stock was opened at Rs 2,722.25 in the early trade on Tuesday, currently, the shares are trading at Rs 2,721.35.
Shares of Power Mech Projects surged by 6 basis points or 0.24% high at Rs 2724.15 as the company has announced that it has secured a significant order from NHAI, costing Rs 972.135 crore.
In a regulatory filing, the company has stated that Power Mech has secured a Rs 972.135 crores (excluding GST) order from National Highways Authority of India for Construction of 4 laning Bypass to NH-114A Connecting NH-333 and NH-133 (Deoghar Bypass) from design km 0.000 to design Km 49.000 (Total Length - 49.000 km) in the state of Jharkhand on Hybrid Annuity mode.
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The time needed to execute the project is 24 months from the appointed date.
The stock was opened at Rs 2,722.25 in the early trade on Tuesday, currently, the shares are trading at Rs 2,721.35. Meanwhile, the stock has surged by 5% in the last five days. The company’s market capitalization stands at Rs 8.61K crore, with a dividend yield of 0.037%.
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