Power Mech hits new high
By Ruma Dubey
about 10 months ago
Power Mech Projects, which had closed yesterday at Rs.1179.75, opened higher today at Rs.1210 and went on to hit a new 52-week high at Rs.1298.55.
The stock has been up ever since it announced that it has bagged an order worth Rs 6,163 crore for five flue gas desulphurization [FGD] projects from the Adani Group.
These EPC projects are expected to be implemented over the course of next 30 months.
The company stated that these orders will strengthen its order-book and enable it to further diversify, helping balance power and non-power segments.