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.
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