Power Mech Soars 6% on JSW Group's ₹1,009 Cr Order! 🚀

Power Mech Projects, a prominent civil construction firm, saw its shares surge by nearly 6% in early trading today following a significant order win from JSW Thermal Energy Limited. The contract, valued at a substantial ₹1,009 crore, is for Civil & Structural Works of the BTG Area for a 2x800 MW Thermal Power Project located in Salboni, West Bengal. This major development underlines the company's strong position in the power infrastructure and EPC (Engineering, Procurement, and Construction) sector.

The order is slated for execution within 36 months from the effective date or commencement of works, providing robust revenue visibility for Power Mech Projects over the next three years. This win is expected to further solidify the company's market presence and operational footprint in large-scale infrastructure projects.

Following the announcement, Power Mech Projects' stock rose 5.92% to ₹3008, up from its previous close of ₹2840.50. This surge pushed the company's market capitalization to ₹9271 crore. A total of 0.26 lakh shares were traded, amounting to a turnover of ₹7.84 crore, indicating strong investor interest.

While the stock has seen impressive gains of 48% over the past three months and a remarkable 71% increase from its 52-week low of ₹1718 reached on March 30th this year, it has experienced a slight dip of 3.27% over the last year. Technical indicators show the stock's Relative Strength Index (RSI) at 66.4, suggesting it is neither in an overbought nor oversold zone.

Power Mech Projects is an engineering and construction company known for providing integrated services including erection, testing, and commissioning (ETC) of boilers, turbines, and generators, along with balance of plant (BOP), civil works, and operation and maintenance (O&M). The recent order from JSW Thermal Energy reinforces its expertise in executing complex projects within the thermal power sector.

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