Power Mech share price surges 6% after bagging BHEL order worth ₹579 crore

Power Mech Projects’ share price increased by 6% on Monday after receiving a ₹579 crore order from Bharat Heavy Electricals Ltd for civil structural and architectural works in Jharkhand. At 9:20 am, Power Mech stock traded at ₹2,304.50 per share on the National Stock Exchange (NSE).

Order specifics:

According to a stock market filing, the project scope includes different civil works for the 2×800 MW DVC Koderma (KTPS) Phase-II in Jharkhand. It involves leveling and grading the whole power block area, which consists of the transformer yard and flue gas desulfurization system, as well as site leasing and worker accommodation preparation. The project also includes building restrooms for operation and maintenance personnel and shelters for construction workers.

As part of infrastructure development, the project comprises foundations for essential structures such as the powerhouse, boiler, electrostatic precipitator, mill, bunker, and fan. It also comprises paving roads and walkways and establishing a service facility complete with parking spots.

The project also involves installing other utility and support systems, such as a rooftop solar system in the power block area, sewage water lines in the power generating zone, and civil works for low-pressure pipes and firefighting systems. It also entails constructing pipe and cable racks, underground cables, wire duct civil works, and other critical infrastructure. Power Mech is scheduled to finish the project in less than three years. Last month, the business signed another deal for the Koderma project.

The Hyderabad-based engineering and infrastructure development business has an order book of ₹4,242 crore as of the December quarter. It specializes in turnkey power plant services such as erection, testing, and commissioning. On Friday, shares rose over 6% to settle at ₹2,168.85, surpassing the benchmark BSE Sensex, which gained 0.73% before the news.