Latest news with #ServotechRenewablePowerSystemLtd
India.com
4 days ago
- Business
- India.com
This company shares in action after order win from Madhya Pradesh government
सेफ इंवेस्टमेंट का भी करें इंतजाम Shares Servotech Renewable Power System Ltd gained on Wednesday, i.e. June 25, 2026 after the company informed exchanges about an order from the Madhya Pradesh government. The stock opened at Rs 149.95 on the NSE against the previous close of Rs 147.73. It jumped further to touch the high of Rs 154.48 – a gain of 4.56 per cent from the closing price of the last trading session. In between, it touched the low of Rs 149.90. The stock is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. The stock touched its 52-week high of Rs 205.40 on September 26, 2024, and its 52-week low of Rs 86.10 on June 27, 2025. The company's market cap is Rs 3,435 crore. Wins Order From Madhya Pradesh Government 'Company has secured a prestigious order for an approx 16 MW on-grid solar rooftop project from Madhya Pradesh Urja Vikas Nigam Ltd., Department of New and Renewable Energy, at various locations in Madhya Pradesh,' the company said in an exchange filing. As part of the order, the company will be tasked with designing, supplying, installing, and commissioning on-grid rooftop solar systems, with individual capacities ranging from 1 kilowatt (KW) to 500 KW. The total cost of the project is Rs 60 crore. The order, which needs to be executed within five months from the issuance of the work order, is a testament to Servotech's efficient project management and execution capabilities. Quarterly Results Servotech Renewable Power System has demonstrated significant financial growth, posting a two-fold rise in net profit to Rs 7.71 crore in the March quarter, driven by higher revenues. This growth trajectory is a promising sign for the company's future. It had reported Rs 3.45 crore net profit in the January-March period of the preceding 2023-24 financial year, the company said in a filing on Wednesday. The company's revenues increased 8 per cent to Rs 147.46 crore in the fourth quarter from Rs 136.65 crore in the same period last fiscal, indicating a steady and stable financial performance. For the entire FY25, total revenue increased by 91 per cent to Rs 676.80 crore from Rs 355.26 crore in FY24. With PTI Inputs
India.com
6 days ago
- Business
- India.com
This company shares gain after acquisition update
शेयर बाजार भी पाकिस्तान से कई गुना बड़ा Shares of NSE-listed Servotech Renewable Power System Ltd gained on Monday, i.e. June 23, 2025, even as equity benchmark indices tumbled in early trade amid rising tensions in the Middle East after the United States bombed three major nuclear sites in Iran. The counter started the session flat at Rs 138.77 but gained to touch the high of Rs 142.34 on the NSE. Last seen, the counter was trading at Rs 139.18 with a gain of 0.30. The stock hit its 52-week high of Rs 205.40 on September 26, 2024, and its 52-week low of Rs 84.88 on June 20, 2024. The market cap of the company is 3,129 crore. Company Shares Update On Acquisition The shares are in action as the company has informed exchanges about a strategic acquisition. In a move that underscores its long-term vision, the company has acquired a 27 per cent stake in New Delhi-based PV Module manufacturer Rhine Solar Ltd. This acquisition, valued at Rs 12.15 crore, is set to significantly enhance the company's backwards integration capabilities. 'As per the agreement, the Company will acquire 27% of the shareholding in Rhine Solar Limited at a post-money valuation, thereby marking a strategic investment aimed at strengthening our backward integration capabilities,' the company said in an exchange filing. As part of the deal, the company will acquire 9,50,106 equity shares of the company at Rs 127.88 per share. The indicative time period for completion of the acquisition is 90 days. Servotech Renewable Power System Share Price Shares of Servotech Renewable Power System have shown a promising trajectory, gaining 9 per cent in the past month. While the counter has corrected 18 per cent in the past six months, on a YTD (year-to-date) basis, the scrip has given a negative return of 17 per cent and has risen 62 per cent in one year. This upward trend is a positive sign for investors. Meanwhile, the company posted a two-fold rise in net profit to Rs 7.71 crore in the quarter ending March 31.
Hindustan Times
04-06-2025
- Business
- Hindustan Times
Elon Musk's father Errol Musk visits Ram Temple: 'One of the best things I've ever done'
Tech billionaire Elon Musk's father, Errol Musk, described visiting the Ram Temple in Ayodhya as one of 'best things' he has ever done. He visited the temple on Wednesday and called it a "wonderful" experience, reported PTI. "It's wonderful, absolutely wonderful (Ayodhya visit). It's one of the best things I've ever done,' PTI quoted Errol as saying. "I'm so glad I came to see it and can't wait till the temple gets completed, the big temple, it's going to be something like a wonder of the world," he added. Apart from the Ram Temple, Errol also visited the nearby Hanumangarhi temple. Visiting the Taj Mahal was also on Errol's schedule initially, however, that might not be the case anymore due to the extreme heat in the region, the report added. Errol Musk, who began his trip to India on June 1 will reportedly be in the country till June 6. While speaking with the reporters after his temple visits, Errol described his experience of being in India so far as 'wonderful' and also shared why he is here. Errol Musk is the Global Advisor to Servotech Renewable Power System Ltd and is here to begin working with the India-based firm. "My experience here in India has been wonderful. I'm here (in India) to begin working with Servotech and am looking forward to spending a lot of time in the country. The temples are marvellous and so are the people," he said. Errol was accompanied by his daughter Alexandra Musk during his visit to Ayodhya, where he landed at around 2.30 pm on Wednesday amid tight security. He wore a traditional Indian attire - a kurta-pyjama - during his visit to the Ram Temple. Errol's visit to India 'is squarely focused on accelerating India's burgeoning green technology and electric vehicle (EV) charging infrastructure development," said Servotech Renewable Power System Ltd. With PTI inputs
Indian Express
04-06-2025
- Business
- Indian Express
Elon Musk's father visits Ram Temple: ‘Wonderful, amazing… Has inspired so many'
BUSINESSMAN AND father of tech billionaire Elon Musk, Errol Musk, reached Ayodhya on Wednesday along with his daughter Alexandra Musk and visited the Ram Temple as well as the Hanuman Garhi temple. Musk also met priests at both the temples. 'Temples are marvelous and the people are even more marvelous,' said Musk. The visit came a day before the conclusion of the three-day rituals of the second Pran Pratistha at the Ram Temple in Ayodhya. Terming his experience as 'wonderful' and 'amazing', Musk also pointed out that the Musk, who is the Global Advisor to Servotech Renewable Power System Ltd, began his India trip on June 1 and will be in the country till June 6, a spokesperson for the Haryana-based company said in a statement. 'It is a wonderful opportunity to see something amazing that has inspired so many people in this country. India is a wonderful place,' said Musk. He further said, 'We have a lot of Indians in my country…I know the Indian culture, coming here just reinforces it. Very good culture, very kind people, full of love, decency…' said Musk soon after his arrival at the Ayodhya airport in a chartered plane around 2:30 pm. 'I am looking forward to spending a lot of time in India. I am very impressed with what I have seen,' he said. Echoing him, Alexandra Musk told mediapersons, 'I have seen the culture, people and food and I am excited to see more. India is a very welcoming place.' Asked if he has any plans of investment in Uttar Pradesh in particular, Musk nodded and said that these 'are being worked out.' – WITH PTI INPUTS
New Indian Express
04-06-2025
- General
- New Indian Express
Errol Musk visits, offers prayers Ayodhya's Ram temple; hails India as 'wonderful place'
LUCKNOW: On the second day of the ongoing consecration ceremony of Lord Ram in his Darbar in Ayodhya, Errol Musk, the South Africa-based businessman and father of billionaire Elon Musk, visited the newly-built Ram temple, taking darshan of Ram Lalla at the Ramjanmabhoomi complex on Wednesday. Musk later visited Hanumangarhi temple to pay obeisance to Lord Hanuman. The Uttar Pradesh government accorded state guest status to the visiting dignitary. Musk, who has been in India since Sunday, June 1, arrived at Maharishi Valmiki International Airport in Ayodhya from Delhi in a private jet. He was accompanied by 16 persons, including his daughter Alexandra Musk and motivational speaker Vivek Bindra. Musk is Global Advisor to Servotech Renewable Power System Ltd, a Haryana-based firm. He was accompanied by Servotech Managing Director Raman Bhatia during his Ayodhya trip. Attired in a kurta-pyjama with a saffron scarf around his neck, Musk drove straight to the Ram temple from the airport. He spent about an hour there, taking darshan and offering puja to Lord Ram. From the Ram temple, he went to Hanumangarhi temple and stayed there for 40 minutes, instead of the 15 minutes planned earlier. A three-layer security arrangement was in place, and the route through which Musk travelled was monitored through drones and CCTV cameras.
