Stock at top circuit: NSE listed shares Servotech Power Systems Ltd has been in an upward trend after introduction in 2023. In the year-to-date (YTD) time, Servotech Power Systems share price has increased to the tune of 380 percent. But it looks like the EV charger stock still has some steam in it. During early morning session on Thursday, this multibagger stock opened up at ₹79.10 po levels and touched 5 percent upper circuit.
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News from Servotech Power Systems
The EV charger company is in news today to get an order from BPCL. The company informed Indian stock exchanges that it has received a BPCL order for 2649 EV chargers.
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“Servotech Power Systems Ltd., the leading manufacturer of EV Chargers in the country, has bagged 2649 AC EV charger orders from Bharat Petroleum Corporation Limited (BPCL). The company will be responsible for manufacturing, supply and installation of 2649 AC EV Chargers strategically across the globe. the nation, equipping petrol pumps in major Indian cities under the BPCL E-drive Project, playing a key role in the widespread implementation of EV charging solutions. The range of EV chargers includes 3 kW and 7 kW for this that project. The manufacturing and production. of these AC chargers has already started and the delivery of the chargers will start from December 15 and will be completed within three months,” Servotech Power Systems said in its NSE exchange.
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Speaking about BPCL order, Sarika Bhatia, Director at Servotech Power Systems said, “We are honored to lead India’s E-Mobility revolution in partnership with BPCL, working closely to establish an energy corridor enabling on-the-go charging for electric vehicles across India. .The company’s state-of-the-art AC EV Chargers will contribute to the realization of India’s ambitious goals in the E-Mobility sector.Implementing these chargers will not only improve the convenience of EV charging but also significantly contribute to reducing the carbon footprint associated with transportation. As India continues to embrace electric mobility, Servotech stands committed to driving innovation in EV charging technology, supporting the nation’s transition to a cleaner and more sustainable transportation ecosystem. This step will undoubtedly be a significant milestone, paving the way for a path for a robust and expansive charging network, essential for the future of high-capacity EV charging.”
The NSE-listed organization that develops EV Charging technology solutions, leveraging its more than two decades of experience and expertise in the electronics space. We offer a wide range of AC and DC chargers that are compatible with different EVs and serve multiple applications such as commercial and domestic.
Disclaimer: The views and recommendations made above are those of individual analysts or trading companies, and not of Mint. We advise investors to check with certified experts before making any investment decision.
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Updated: 23 Nov 2023, 11:54 IST
