Shares of Power Mech Projects are trading higher by over 2% after the company announced that it has received a contracts worth Rs351cr.
The project awarded by BHEL includes civil and architectural works of all buildings structures & associated works of Coal, Ash, Lime and Gypsum handling plant and supply part of civil & architectural works for CHP, AHP & misc. work for 2x660 MW Maitree Rampal Project, Bangladesh to be completed in a period of 20 months.
The other contract also involves providing operation and maintenance services for 2*660 MW Jaypee Nigrie Super Thermal Power Plant at Nigrie (MP) for a period of 5 years for a total contract price of Rs140cr awarded by Jayprakash Power Ventures Limited.
Power Mech Projects Ltd is currently trading at Rs734.55 up by Rs16.6 or 2.31% from its previous closing of Rs717.95 on the BSE.
The scrip opened at Rs723.90 and has touched a high and low of Rs742 and Rs722 respectively. So far 14,467 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,056.16cr.