Servotech Power Systems Ltd: Earlier on 1st February 2024, the company secured 120 Cr Order of 1800 DC Fast EV Chargers from BPCL, another order around a week ago from HPCL worth ₹102 crore for delivering around 1500 DC fast EV chargers to HPCL and other EV charger OEMs.
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The energy company has today (1st March 2024) declared that it has received another order worth ₹111 crore from the Indian Oil Corporation (IOC) Limited.
Servotech Power Systems Ltd released a press release stating “Company has bagged an order of 1400 DC fast EV chargers from Indian Oil Corporation Limited (IOCL) and other EV charger OEMs.” The order secured by IOCL involves Servotech manufacturing, supplying and installing DC EV chargers nationwide, prioritizing deployment at Indian Oil petrol pumps and other said locations.”
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After this news, the stock started gaining investors’ attention and hit an intraday high of ₹103 on the NSE, a nearly 3.50 percent rise. The stock is near its life-time high of ₹108.70 per share.
The total number of EV charger orders from oil marketing companies and EV charger OEMs with Servotech Power Systems Ltd. stands at 4700 units and the total value of the combined orders stands at 333 crores.
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