Servotech Renewable Power System Share Price Surges 4% Amid Broader Market Slump

Market Performance

Despite a muted Indian stock market on Tuesday, Servotech Renewable Power Systems' share price saw notable upward momentum.

• The stock surged 4% intraday, reaching a high of ₹153 per share.
• This comes while broader indices remained flat, making Servotech a standout performer for the day.

Main News: Bengaluru Airport Deal Boosts Investor Sentiment

A significant order announcement fueled the rally in Servotech Renewable Power Systems' share price.

• Servotech has received a project from Bengaluru International Airport Limited (BIAL).
• The project involves setting up an EV charging station featuring 10 ultra-fast DC EV chargers, each with a capacity of 240 kW.
• Total installed charging capacity will reach 2.4 MW, making it the first and largest airside EV charging hub at any Indian airport.

The company stated that the station will:

• Be located within the airport premises.
• Cater to electric buses used for terminal-to-aircraft transport.
• Support 24/7 EV operations to cut down transport-related carbon emissions.

Company Details: Servotech's Continued Momentum

Servotech Renewable Power System, formerly known as Servotech Power Systems Ltd., is a key player in:

• EV chargers
• Solar products
• Power backup solutions

The company has maintained a strong market presence, securing a string of notable project wins and aggressively expanding its infrastructure in the green mobility space.

Servotech Renewable Power System Share Price Trend

The share price of Servotech has seen consistent interest from investors, especially in recent weeks.

• In June, the stock delivered a 19% gain, the highest monthly increase in the past 9 months.
• Over a longer horizon, the stock has maintained its multibagger status, delivering:
  • 382% return in CY23
  • 117% return in the following year
• Despite recent gains, the stock remains 28% below its recent peak of ₹205.40 apiece, indicating room for potential price recovery.

Summary of the Article

• Servotech Renewable Power System's share price climbed 4% intraday to ₹153.
• The surge followed a high-impact project win for an EV charging hub at Bengaluru International Airport.
• The project features 10 ultra-fast DC chargers with a 2.4 MW capacity, establishing it as a benchmark EV infrastructure project in India.
• Over the past year, the stock has delivered multibagger returns, showing long-term investor interest.
• Servotech continues to position itself as a leading force in India's green energy transition.