Power Mech Projects shares rise 4% on order win from Indian Railways

Shares of Power Mech Projects Ltd gained nearly 4% today after the civil construction firm won an order worth Rs 396.25 crores from Indian Railways.

The order related to the construction of electrified 4th Railway BG Line in between Dadhapara- BelahaDagori & Nipania- Bhatapara-Hathbandh stations in Chhattisgarh in South East Central Railway on EPC basis.

The order relates to the execution of civil construction and electrical works and is expected to be completed in 30 months.

Power Mech Projects stock rose 3.64% to Rs 5,398 against the previous close of Rs 5208.05 on BSE.

Market cap of Power Mech Projects climbed to Rs 8357 crore. Total 2452 shares changed hands amounting to a turnover of Rs 1.31 crore. The turnover stood at Rs 34.56 crore on NSE

Power Mech Projects shares have gained 18 per cent since the beginning of this year and risen 160.48 per cent in one year.

The stock has seen very less volatility in a year with a beta of 0.7.

In terms of technicals, the relative strength index (RSI) of the stock stands at 57.1, signaling the stock is trading neither in the overbought nor in the oversold zone. Power Mech Projects shares are trading higher than the 5 day, 20 day, 30 day, 50 day, 100 day, 200 day moving averages.

Power Mech Projects is an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M).

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