Power stock surged by 11% following the receipt of a ₹45 crore order from Asian Energy Services
Power stock: Powertech Limited is a leading company that specializes in providing Engineering, Procurement, Construction, and Commissioning (EPCC) services, as well as Integrated Operation and Maintenance (O&M) services. Recently, the company’s stock price surged by 10.84 percent following a lucrative order worth Rs. 45.68 crore from Asian Energy Services Limited.
Stock Price Movement
During Thursday’s trading session, Lakshya Powertech Limited’s shares soared to an intraday high of 10.84 percent, starting from the previous close of Rs. 260.70. The stock opened at Rs. 264.50 and is currently trading at Rs. 287.50, reaching a high of Rs. 288.95 and a low of Rs. 260.50. The company’s market capitalization now stands at approximately Rs. 289.91 crore.
Recent Development
Lakshya Powertech Limited recently secured a significant work order valued at Rs. 45.98 crore from Asian Energy Services Limited. The project entails the design, engineering, supply, installation supervision, testing, and commissioning of three gas compressor packages and associated Balance of Plant items. This project is expected to be completed within six months, showcasing the company’s expertise in the EPCC segment and aligning with the government’s focus on natural gas.
Services Offered
In addition to EPCC services, Lakshya Powertech specializes in Integrated Operation & Maintenance, Specialty Services, and Spare Parts Trading. The company has successfully completed over 138 projects with a total value of approximately Rs. 136.9 Crores, serving a diverse range of public and private sector clients.
IPO Details
Lakshya Powertech Limited conducted its IPO from October 16-18, 2024, with a price band of Rs. 171-Rs. 180 per share and an issue size of Rs. 49.91 crores in Q2 FY24 to Rs. 7 crore in Q2 FY25.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.