Power Mech in the news

Power Mech Projects is making some news today. It announced having received an order worth Rs.294 crore from Adani Power.

This amount excludes GST and an incentive amount of Rs.1.25 crore per unit after achieving the Synchronization within stipulated time.

This is for  Overhauling services, condition assessment, Erection, Testing, Commissioning and manpower assistance for Performance Guarantee Test of Steam Generator (SG) and Steam Turbine Generator (STG) and its Auxiliaries for Unit 3 and 4 of 2x660 MW Korba Phase-II Thermal Power Project.

The order for the Unit 3 steam generator and steam turbine generator must be fulfilled within 12 months, while the Unit 4 order needs to be completed within 18 months.

This is the second order from Adani Power – the earlier one was in Nov’24 worth Rs.510 crore for mechanical construction work on its thermal power project in Chhattisgarh, to be completed within 34 months.

And last week, it got in a Rs.186 crore order from Jaiprakash Power for its thermal plant in MP.

The stock, which had closed at Rs.2712.20, opened at Rs.2739.95 and rose to an intraday high at Rs.2771.85, up over 2%.