Servotech Power System Shares Hit Fresh 52W-High; Here's Why

Shares of Servotech Power System surged 4.56 per cent to touch the level of Rs 104.80. The stock has reached a 52-week high today. Shares of Servotech Power System, with a market cap of around Rs

In the last 5 days, the shares of Servotech Power System have given a return of 27 per cent and in the last one month it has given a return of 38 per cent.

Recently, the company informed that it had received an order worth Rs 120 crore from Bharat Petroleum Corporation Limited. Under this order, Servotech Power is going to supply and install 1800 DC fast EV chargers for Bharat Petroleum Corporation Limited. Servotech Power Systems has to install this charger at Bharat Petroleum's petrol pumps in big cities of the country.

The Union Finance Minister Nirmala Sitharaman in the budget presented on February 1 said that EV charging infrastructure across the country should be promoted, after which Servotech Power Systems, which is related to this business, have been registering a rise.

Servotech Power Systems is into the business of development of tech-enabled EV charging solutions leveraging their over two decades of experience and expertise in the electronics space. It offers an extensive range of AC and DC chargers which are compatible with different EVs and serve multiple applications.