Power Mech wins order worth Rs202cr

The contract is from Railway Vikas Nigam Limited and is expected to be completed in 21 months.

Feb 26, 2019 05:02 IST India Infoline News Service

Power Mech has won a contract received from Railway Vikas Nigam Limited at a total contract price of Rs202cr. The project is expected to be completed within 21 months.

The contract includes construction of PEB sheds, structural buildings, road works, track works, general electrical works, OHE works, signalling and telecommunication works, installing and commissioning of machinery and plants etc at Kanpur, Uttar Pradesh.

The company made the announcement in a press release on Tuesday morning. Despite the news, shares of the company were down 4% intraday Tuesday.

Power Mech Projects Ltd is currently trading at Rs841.90 down by Rs35.6 or 4.06% from its previous closing of Rs877.50 on the BSE.

The scrip opened at Rs878 and has touched a high and low of Rs884.95 and Rs841.85 respectively. So far 598 (NSE+BSE) shares were traded on the counter. 

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