Midcap Stock Rallies 3.61% After Company Secures Orders Worth Rs. 625.21 Crore

Midcap civil construction company Power Mech Projects Limited shares on Friday rallied after the company on Thursday said that it has secured two orders worth Rs 625.21 Crore from Hindustan Zinc and its parent company Vedanta Ltd. The market cap of the company is Rs 6,362.55 per share.

The first order was received from Hindustan Zinc Limited worth Rs.229.20 for the Operation and Maintenance of 2x91.2 MW including control room operation of CPP (Captive Power Plant) at Dariba, Udaipur, Rajasthan. The order will executed in six years.

The second order awarded by Vedanta worth Rs 396 crore for the installation, testing, and commissioning support of a boiler, turbine, and generator at the site of its 2x600 MW project in Singhitarai, Chhattisgarh. The order will be executed in 18 months.

The shares of Power Mech Projects on Friday closed 3.61% higher at Rs 4,268.35 per share on the BSE with the day's high and low of Rs 4,275 and Rs 4,130, respectively.

The stock surged 0.64% in 1 week, and 4.64% in 1 month. It gave 77.51% robust return in 6 months. It gave 210.70% multibagger return in 1 year, and 894.14% multibagger return in 3 years. In 5 years, it gave 320.65% positive return.

Its 52-week high is Rs 5,062.25 per share and its 52-week low is Rs 1,335.50 per share on BSE.