Stock Market
Power Mech shares surge after Rs 1,000 crore Adani deal sparks investor buzz
Mumbai/IBNS: Shares of Power Mech Projects Ltd surged 5 percent after the company secured two separate orders worth around Rs. 1,000 crore, media reports said.
The Hyderabad-based construction and engineering firm said it received the contracts from subsidiaries of Adani Power Limited.
The two orders have been awarded by Mirzapur Thermal Energy (UP) Private Limited and Mahan Energen Limited.
The Mirzapur Thermal Energy project is valued at Rs. 515 crore, while the Mahan Energen contract is worth Rs. 490 crore.
Power Mech specializes in power plant erection, commissioning, and maintenance, and has been a key service provider in India’s power and infrastructure sector.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
