Stock market today: Despite weak trends in the Indian stock market, Servotech Power Systems Ltd share price today witnessed strong buying. Servotech Power Systems Ltd share price today opened downside at ₹123 apiece on NSE and touched an intraday low of ₹119.10 apiece. However, after the outbreak of stock market news about Servotech Power Systems Ltd bagging a BPCL order worth ₹20 crore from the Indian PXU Bharat Petroleum Corporation Limited (BPCL), the EV stock witnessed strong buying. It touched an intraday high of ₹129 and came close to its lifetime high of ₹129.81 apiece.
Servotech Power Systems news
The EV charging solution provider company informed the Indian stock market exchanges about the BPCL order, saying, “Servotech Power Systems Ltd., a leading manufacturer of EV chargers and solar solutions, has received approximately an additional order. Four hundred DC Fast EV Chargers units are available from Bharat Petroleum Corporation Limited (BPCL) and other EV charger OEMs. The project valued at around ₹20 Crores will involve manufacturing, supplying, installing, and deploying these chargers nationwide, particularly at BPCL petrol pumps as part of the BPCL E-drive Project.”
Previously, the company received an order for 1800 DC Fast EV chargers from BPCL and other EV charger OEMs valued at 120 Crs. They have now increased by 20%. This increase comes from the company’s timely deliveries and consistent performance. Servotech has completed 35% of the dispatches on time and has met 100% of their requirements as per their plan. Seeing our commitment and efficiency and praising Servotech’s commitment, BPCL has placed this order on the company.
Speaking on the BPCL order, Sarika Bhatia, Director at Servotech Power Systems Ltd, said, “Servotech feels extremely pleased to have worked for BPCL and is committed to living up to the trust BPCL has placed in us. We have repeatedly showcased our manufacturing capabilities with our production team, who are relentlessly working and focusing on delivering exceptional products in-house. We will continue to maintain the highest service and operational efficiency standards, setting new benchmarks in the industry. Our eco-conscious and top-notch EV chargers cater to the growing demand for sustainable EV charging solutions across India, increasing the accessibility, affordability and availability of EV charging facilities to a wider demographic of EV users.”
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