Multibagger Power Stock Zooms 380% In 12 Months; Bags Rs 102 Crore EV Charger Order From Maharatna PSU

Shares of Servotech Power Systems witnessed a rise of 5% to hit the upper circuit on Friday, fueled by a substantial order from Hindustan Petroleum Corporation Limited (HPCL). The Delhi-based EV charger manufacturer, listed on the National Stock Exchange (NSE), opened the day in the green at Rs 93.95 and surged to the upper price band at Rs 97.80, prompting a trading halt. The development came as the company bagged a significant order for nearly 1500 DC fast EV chargers from HPCL and other EV charger Original Equipment Manufacturers (OEMs), amounting to Rs 102 crore.

Servotech Power Systems, currently trading higher than various moving averages, has established itself as a key player in the electric vehicle charging infrastructure sector. The order secured from HPCL includes the manufacturing, supply, and installation of DC EV chargers nationwide, with a focus on HPCL's retail outlets. The order involves two charger variants of 60 kW and 120 kW, emphasizing the company's commitment to creating a robust and well-connected EV charging network.

In a statement, Servotech Power Systems highlighted the significance of this move in fostering consumer-friendly electric vehicles, promoting decarbonized mobility, and meeting the evolving needs of the sustainable automotive industry. The company's Director, Sarika Bhatia, expressed her honour in contributing to India's E-Mobility revolution, stating, "We are committed to scaling up and fast-forwarding the transition to a sustainable future."

The stock has been on an upward trajectory, gaining 26% in the past year and a multibagger return of 393% over the last two years. As of February 23, Servotech Power Systems commands a market capitalization of Rs 2,079 crore, reinforcing its position as a prominent player in the EV charging infrastructure market.

The surge in share price reflects the financial gains for investors as well as the growing recognition of Servotech Power Systems as a key contributor to India's electric vehicle ecosystem. The company's commitment to advancing the E-Mobility revolution aligns with the broader industry goals of promoting sustainable transportation.

The order from HPCL is not only a testament to Servotech Power Systems' capabilities but also a strategic move towards creating a comprehensive EV charging network. With the government's push towards electric mobility and sustainability, such developments play a crucial role in shaping the future of the automotive industry in India.

Investors and analysts are optimistic about Servotech Power Systems' future prospects, considering the company's consistent growth and its role in advancing India's electric mobility goals. The stock's performance over the past two years has positioned it as a lucrative investment, attracting attention in the dynamic and rapidly evolving electric vehicle sector.

As of 1:45 pm on the National Stock Exchange (NSE), Servotech Power Systems shares continued to trade with gains of 5% at Rs 97.80 per share. The stock has gained nearly 380% in the last year, which signifies its emergence as a multibagger stock with the potential for sustained growth in the electric vehicle charging infrastructure market.

Servotech Power Systems' recent surge in share price, driven by a substantial order from HPCL, solidifies its position as a leading player in India's electric vehicle charging infrastructure sector.