Monday, April 22, 2024
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HomeStocksShares of Power Mech Projects surge on securing contract from South East...

Shares of Power Mech Projects surge on securing contract from South East Central Railway

A domestic entity will execute a project using the EPC model, involving design, procurement, and construction, to improve Chhattisgarh's railway network and unlock new economic opportunities.

About Contract

South East Central Railway has awarded Power Mech Projects a significant contract worth Rs 305.81 Crore for the construction of a new railway line in Chhattisgarh. This project is expected to improve regional connectivity and boost economic development. This project aims to bridge the gap between Rajnandgaon, Dongargarha, Bhilai, and Durg by establishing a 4th Broad Gauge Line (BG Line).

This initiative holds immense potential to transform regional connectivity. The improved transportation network will streamline the movement of people and goods, fostering economic growth and creating job opportunities during the 30-month construction period.

The project will be undertaken by a domestic entity using the EPC (Engineering, Procurement, and Construction) model. This signifies that the contractor will be responsible for the entire project lifecycle, encompassing design, material procurement, and construction.

The successful execution of this project within the designated timeframe is crucial for enhancing Chhattisgarh’s railway network. This development is anticipated to unlock new avenues for economic activity and pave the way for further progress in the region.

Share Price Movement

At present, the shares of the company are trading at Rs 4727 up by 141.95 points or 3.10% as compared to the previous day’s closing of Rs 4585.05. Today, the share price opened at Rs 4493.35 and touched intraday highs and lows of Rs 4799.40 and Rs 4493.35 respectively.

About Company

Power Mech Projects is a leading infrastructure-construction company based in Hyderabad, India, established in 1999 by engineering entrepreneur S. Kishore Babu. With a focus on quality, safety, and timeliness, the company has undertaken various projects in India and abroad, including Ultra Mega Power Projects, Super Critical Thermal Power Projects, Sub Critical Power Projects, Heat Recovery Steam Generators, Circulating Fluidized Bed Combustion Steam Generators, Gas Turbine Generators, Hydro Electric Projects, Operation & Maintenance of running plants, and entire civil works for power plants.

The company is highly credited for providing a spectrum of services in power and infrastructure sectors, including erection, testing, commissioning of BTG and BOPs, operation and maintenance, repairs, overhauling, renovation, and modernization of power plants and related civil works. With operations in over ten countries worldwide, Power Mech is a global leader in power generation and infrastructure.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.
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