Power Mech climbs 4% on order wins worth Rs1,238.75cr

An order has been received for HNSS Project - Supply of water from Chitravathi Balancing Reservoir to canals.

Mar 11, 2019 02:03 IST India Infoline News Service

Power Mech Projects
Shares of Power Mech climbed 4% on Monday after the company received an order worth Rs1,238.75cr from Water Resources Department, Government of Andhra Pradesh.

"An order has been received for HNSS Project - Supply of water from Chitravathi Balancing Reservoir to HNSS Main Canal, Punganur Branch Canal and Kuppam Branch Canal in Chittoor district through Yogivemana Resevoir Project in Ananthapuram district, Andhra Pradesh (Hydro, Electro - Mechanical works etc.)," the company said in a press note to the exchanges on Monday.

Power Mech Projects Ltd's share price is currently at Rs973, up by Rs30.55 or 3.24%, from its previous close of Rs942.45 on the BSE.
The scrip opened at Rs934.30 and has touched a high and low of Rs985 and Rs934.30, respectively. So far, 19,928 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs1,386.42cr.

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