Multibagger EV-charger manufacturing company joins Bengal Pro T20 League as franchise team owner – details inside!
From Rs 2 to Rs 88.60 per share, the stock delivered multibagger returns of 4,300 per cent in 3 years.
Servotech Power Systems, a leading name in the EV charging and solar energy industry announced its entry into the world of cricket with the acquisition of one of the cricket teams that is set to play in the Bengal Pro T20 League to be organised by Cricket Association of Bengal (CAB). As a significant move, the company is one of the franchise team owners in the highly anticipated Bengal Pro T20 League which is set to kick off immediately after the IPL in early June 2024.
This strategic move marks a prominent milestone for Servotech Power Systems. By entering the dynamic realm of professional sports through the acquisition of the cricket team, Servotech aims to capitalize on cricket's immense popularity and global appeal to strengthen its brand presence and connect with a wider audience base. This strategic alignment presents an exciting opportunity for Servotech to extend its reach beyond its industry boundaries and tap into new avenues of growth and engagement by promoting its brand.
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About Servotech Power Systems Ltd
Servotech Power Systems, a leading company in electronics and EV charging, is leveraging its experience to build India's EV infrastructure. They offer various AC/DC chargers, are building a domestic manufacturing facility for crucial components, and recently secured a contract to construct 20 EV charging stations in Nashik, contributing to cleaner transportation and a stronger EV ecosystem in India.
On Tuesday, shares of Servotech Power Systems Ltd surged 3.87 per cent to Rs 88.60 per share with an intraday high of Rs 89.55 per share and an intraday low of Rs 83.60 from its previous closing of Rs 91.45. The 52-week high of the stock is Rs 108.70 and the 52-week low of Rs 25 with a market cap of over Rs 1,900 crore. The promoters of the company bought 42,50,000 shares and increased their stake to 61.37 per cent in January 2024 compared to 60.60 per cent in December 2024. From Rs 2 to Rs 88.60 per share, the stock delivered multibagger returns of 4,300 per cent in 3 years. Investors should keep an eye on this multibagger EV stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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