The project valued at around Rs 20 Crores will involve manufacturing, supplying, installing, and deploying these chargers nationwide, particularly at BPCL petrol pumps as part of the BPCL E-drive Project.
Shares of Servotech Power Systems Ltd., a leading manufacturer of EV chargers and solar solutions, are in focus as the company has received an additional order of approx. 400 units of DC Fast EV Chargers from Bharat Petroleum Corporation Limited (BPCL) and other EV charger OEMs. The counter opened in red but gained later to touch the high of Rs 129. At this price, the scrip is just 2.41 per cent away from the 52-week of 129.81.
The project valued at around Rs 20 Crores will involve manufacturing, supplying, installing, and deploying these chargers nationwide, particularly at BPCL petrol pumps as part of the BPCL E-drive Project.
Previously, the company received an order for 1800 DC Fast EV chargers from BPCL and other EV charger OEMs valued at 120 Crs. which they have now increased by 20%. This increase comes as a result of the company’s timely deliveries and consistent performance. Servotech has already completed 35% of the dispatches on time and has met 100% of their requirements as per their plan. Seeing our commitment and efficiency and as a matter of praising Servotech’s commitment BPCL has given this order to the company.
Sarika Bhatia, Director, Servotech Power Systems Ltd. commented, Servotech feels extremely elated to have worked for BPCL and is committed to living up to the trust BPCL has placed in us. Time and again we have showcased our manufacturing capabilities with our production team relentlessly working keeping a strong focus on delivering exceptional products in-house. We will continue to maintain the highest standards of service and operational efficiency, setting new benchmarks in the industry. Our eco-conscious and top-notch EV chargers are catering to the growing demand for sustainable EV charging solutions across India, increasing the accessibility, affordability and availability of EV charging facilities to a wider demographic of EV users.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)