Power Mech Projects gained 8 percent on Monday after the company received multiple orders worth Rs 1,034.1 crore.

Share Market Live

NSE

The Hyderabad-based company has bagged three Service Orders or Letters of Award (LOA) totaling to Rs 1,034.13 crore.

It has received a service order worth Rs 608 crore from the Adani Group for the execution of the Flue Gas Desulphurisation System of its thermal power plants at multiple locations including Mahan (Madhya Pradesh), Raipur (Chhattisgarh) and Raigarh (Chhattisgarh), ranging from 600-685 MW.

The joint venture company of Power Mech Projects and Taikisha Engineering India, Power Mech-Taikisha JV, has been awarded a project worth Rs 306.6 crore to set up a wagon repair workshop at Kazipet, Telangana on an EPC mode.

The construction engineering company will also provide technical expertise, rotary technicians, and operation and maintenance services for CPP and related utilities, including the central control room for 8 x 34.5 MW, at Dangote Petroleum Refinery and Petrochemicals Project in Lagos, Nigeria. The total cost of the contract is close to Rs 120 crore and the execution period is 24 months.

Shares of Power Mech Projects ended 7.8 percent higher at Rs 1,984.25.