• Multibagger infra stock is up over 137% in one year period
Shares of Power Mech Projects Ltd hit a record high of ₹2,374 on BSE in early trading session on Tuesday. The stock, which has seen a rally recently, has outperformed this year (YTD) by giving multibagger returns during the last six months period.
Shares of Power Mech Projects have rallied over 145% in last six months from trading around ₹960 per share to current all-time high. Meanwhile, the multibagger infra stock has gained over 137% in a span of one year.
In October this year, Power Mech Projects Ltd's joint venture (JV) with RITES bagged an order worth over ₹499 crore from the Bangalore Metro Rail Corporation Ltd (BMRCL). The project was awarded to RITES-PMPL. According to a regulatory filing, the order is for the construction of a depot cum workshop at Chalaghatta in the Reach-II extension of Phase-II of the Bangalore Metro Rail project.
Power Mech Projects Limited is one of the leading infrastructure-construction companies based in Hyderabad, India, having global presence and engaged in providing spectrum of services in power and infrastructure sectors. It was established in the year 1999 by S Kishore Babu, an engineering entrepreneur, who is currently the Chairman/Managing Director of Power Mech Projects Limited.
Power Mech Projects Limited operates as an Integrated Power Infrastructure Services Company. The company provides comprehensive manufacture, testing and commissioning of boilers, turbines and generators, civil works and operation, and maintenance services. It has 112 ongoing projects till November 2022 including 44 AMC and 11 overseas projects.
In an investor presentation last month, the company said it would focus on expansion into new areas in railways, water projects, roads, coal mining, power, steel plant operations, material handling, value chain in oil and gas sector, cross country pipelines Still working. , Urban infrastructure projects, etc.
Besides this, it is also focusing on heavy steel fabrication operations with investments planned to reduce site costs and for better and faster deliveries. “O&M is a key driver and aims to double in 3 years by expanding in power sector, captive sector and greater penetration in non-power sector both in domestic and international market.”
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