Power Mech Projects, which had closed yesterday at Rs.1179.75, opened higher today at Rs.1210 and went on to hit a new 52-week high at Rs.1298.55.

The stock has been up ever since it announced that it has bagged an order worth Rs 6,163 crore for five flue gas desulphurization [FGD] projects from the Adani Group.

These EPC projects are expected to be implemented over the course of next 30 months.

The company stated that these orders will strengthen its order-book and enable it to further diversify, helping balance power and non-power segments.