Power Mech Projects hits 52-week high on securing work order worth Rs6,163.20 crore

18 Aug 2022 , 12:15 PM

Power Mech Projects Ltd stocks in the fast lane on Thursday’s trading session as the company has received Letters of Award (LOA) worth Rs6,163.20 crore from Adani Group.

The Letter of Award includes 5 Flue Gas Desulphurisation (FGD) Projects from Adani Group for installation of 15 FGD retrofits to coal based units situated at Mundra, Tiroda, Kawai and Udupi, on a complete EPC basis, to be executable over a 30 months period of time for their plants ranging between 330 MW to 660MW.

Further, these FGD units will effectively curb Sulphur dioxide emissions with 92% recoveries and will playa vital part in helping India’s ambitious goal of reducing emission-intensity as announced at the United Nations Climate Change Conference, COP 26.

At around 12:12 PM, Power Mech Projects Ltd was trading at Rs1,181.60 per share up by Rs25.3 or 2.19% from its previous closing of Rs1,156.30 per share on the BSE.

On Thursday, during early trade the scrip hit 52-week high at Rs1239.45 per share on the BSE platform.