Shares of this small-cap company rally after securing orders worth Rs 6163 crore from Adani Group

After the commissioning of these projects, opportunities are envisaged for undertaking Operation & Maintenance (O&M) of the units.

The shares of Power Mech Projects Ltd (PMPL), an S&P BSE Small-Cap company, are trending on the bourses today. As of 12.25 pm, the shares of Power Mech Projects are trading at Rs 1189.15 apiece, higher by 2.84 per cent over the previous close. In contrast, the frontline index S&P Sensex is down by 0.37 per cent. 

The rally in the company’s share price came after the company reported significant order wins. Today, the company announced that it has bagged a record order for 5 Flue Gas Desulphurization [FGD] projects from Adani Group, which is a multinational conglomerate company.  

The orders secured by PMPL have an aggregate value of Rs 6,163.20 crore. These orders are for a quantum of 15 FGD retrofits to coal-based units, whose sizes range between 330 MW and 660 MW. These Engineering, Procurement and Construction (EPC) projects are projected to be implemented over the next 30 months. 

Today, the scrip opened at Rs 1174.95 and touched the day’s high of Rs 1,239.45, which is its 52-week high as well. The scrip’s day’s low and 52-week low stand at Rs 1174.60 and Rs 805.15 respectively. So far 14,894 shares have been traded on the bourses.