Power Mech Projects saw a surge of over 3 percent in its share price during early trading on February 27, following the announcement of securing a significant order worth Rs 396.25 crore from the South East Central Railway.
By 9:40 am, Power Mech Projects was trading at Rs 5,336.70, up by Rs 129.35 or 2.48 percent on the BSE.
The newly acquired order pertains to the construction of an electrified 4th Railway BG line spanning between Dadhapara-Belaha-Dagori and Nipania-Bhatapara-Hathbandh stations in Chhattisgarh, under the South East Central Railway, on an Engineering, Procurement, and Construction (EPC) basis. The company disclosed this information in its filing with the stock exchange. The completion timeline for this project is set at 30 months. Additionally, in the quarter ended December 2023, Power Mech Projects reported a significant increase of 17.7 percent in net profit, amounting to Rs 60.38 crore.
