Power Mech jumps 3% on winning Rs 396-crore South East Central Railway job

The said order is to be completed in 30 months.

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The share price of Power Mech Projects rose more than 3 percent in early trade on February 27 after the company secured a Rs 396.25-crore order from the South East Central Railway.

At 9:25am, Power Mech Projects was quoting Rs 5,332.30, up Rs 124.25, or 2.39 percent, on the BSE.

The order is for construction of electrified 4th Railway BG line in between Dadhapara- Belaha-Dagori and Nipania- Bhatapara-Hathbandh stations in the state of Chhattisgarh in South East Central Railway on EPC basis for Rs 396.25 crores, company aid in its exchange filing. The order is to be completed in 30 months.

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The company in the quarter ended December 2023 reported 17.7 percent jumped in net profit at Rs 60.38 crore.

In January 2024, the company received orders worth Rs 381.34 crores from Rail Vikas Nigam and worth Rs 263.57 crore from Neyveli Uttar Pradesh Power Limited (NUPPL).

Also received Civil and Mechanical Construction works for 2×800 MW (Phase-II) Mahan Ultra Supercritical Thermal Power Project at Bandhua village in Singrauli, Madhya Pradesh, from Mahan Energen Limited for Rs 825 crore.