Servotech power systems share: Servotech Power Systems, a company that manufactures charging components and charging stations for electric vehicles, has won a major contract. In fact, the company has received a contract from Bangalore Electricity Supply Company Limited (BESCOM) to build 11 DC fast EV charging stations. These charging stations will be installed in 11 Regional Transport Offices (RTOs) of Karnataka. Sarika Bhatia, Director of Servotech Power Systems Limited, said that we are happy to work on this project with BESCOM. This initiative brings us closer to our collective goal. Our collective goal is to transform India into an EV-focused country.
Investors broke down on shares
Amidst this order, investors rushed to buy the stock of Sarvotech Power System on the second trading day of the week. During trading on Tuesday, the stock jumped 4 per cent to Rs 146.90 on NSE. The stock closed 3.30% higher at Rs 144.74 as compared to the previous day. Let us tell you that on August 28, the stock had reached Rs 153.65. This is the 52-week high of the stock. In October 2023, the stock price had come down to Rs 69.50. In this way, the stock has given more than double returns to investors in less than a year.
How were the June quarter results
Servotech Power Systems Limited’s profit increased by nine per cent to Rs 4.48 crore in the June quarter of the current financial year 2024-25. Its profit was Rs 4.10 crore in the first (April-June) quarter of FY 2023-24. Total revenue increased from Rs 79.81 crore to Rs 112.44 crore on a year-on-year basis. NSE-listed Servotech Power Systems is a leading manufacturer of electric vehicle (EV) chargers, solar solutions and power-backup solutions.
