This is the company’s first solar rooftop order of around 2 MW from the North Eastern Railway (NER), Lucknow Division.
Shares of Servotech Renewable Power System are trading in green a day after the company informed exchanges that it has won its first order from Indian Railways. The company has informed exchanges that the order is related to the installation of solar rooftops.
The counter opened in green at Rs 124.98 on the NSE against the previous close of Rs 121.29. Last seen, the stock was trading at Rs 122.90.
The counter has a 52-week high of Rs 205.40 and a 52-week low of Rs 75.50. The market cap of the company is Rs 2,740 crore.
Order Details
This is the company’s first solar rooftop order of around 2 MW from the North Eastern Railway (NER), Lucknow Division.
“This entry into the railway sector opens up new avenues for growth and aligns with the company’s vision of contributing to a greener future throughout Indian Railways,” the company said.
Earlier, Servotech Renewable Power System inked a pact with the Chamber of Indian Micro, Small & Medium Enterprises (CIMSME) to boost the adoption of solar energy across India.
Under the PM Surya Ghar Muft Bijli Yojana, they aim to install 100,000 solar rooftop systems in homes by 2026, a statement said.
A key component of this initiative is the launch of a dedicated, user-friendly mobile application, developed by CIMSME in collaboration with Servotech.
This app simplifies the entire solar adoption process, offering homeowners a seamless experience from initial roof inspection and documentation to installation, system monitoring, and subsidy application assistance, the statement said.
To ensure efficient nationwide implementation, CIMSME will mobilise a network of approximately 30,000 individuals.
Operating on a PIN code basis, this dedicated workforce will facilitate sales, provide on-the-ground support, and oversee the installation process.
Servotech, which is already registered with 62 discoms (power distribution companies) across the country, will provide comprehensive end-to-end solar solutions, including the installation of Solar Photovoltaic Generation Systems (SPGS) ranging from 2kW to 10kW, tailored to meet diverse household energy needs.
The company will also provide maintenance services to ensure optimal system performance.
With PTI inputs
