Servotech Power Systems share Price Today: Servotech Power Systems EV Stock Near Lifetime High Following BPCL Order

Ravi Singh

Servotech Power Systems share Price Today: Despite weak trends in the Indian stock market, Servotech Power Systems Ltd shares experienced strong buying interest today. The share price opened lower at ₹123 apiece on the NSE, hitting an intraday low of ₹119.10 apiece. However, after news broke about Servotech Power Systems Ltd securing a ₹20 crore order from Bharat Petroleum Corporation Limited (BPCL), the EV stock saw significant buying activity. It reached an intraday high of ₹129, nearing its all-time high of ₹129.81 apiece.

Servotech Power Systems EV Stock Update

The EV charging solutions provider informed Indian stock market exchanges about the BPCL order, stating, “Servotech Power Systems Ltd., a leading manufacturer of EV chargers and solar solutions, has received an additional order for approximately 400 DC Fast EV Chargers from Bharat Petroleum Corporation Limited (BPCL) and other EV charger OEMs. Valued at around ₹20 crore, the project will involve the manufacturing, supplying, installing, and deploying of these chargers nationwide, particularly at BPCL petrol pumps as part of the BPCL E-drive Project.

Servotech Power Systems share Price Today

Previously, the company received an order for 1,800 DC Fast EV chargers from BPCL and other EV charger OEMs valued at ₹120 crore. This new order represents a 20% increase, driven by the company’s timely deliveries and consistent performance. Servotech has successfully completed 35% of the dispatches on schedule, meeting 100% of their requirements as planned. Recognizing Servotech’s commitment and efficiency, BPCL has placed this additional order.

Commenting on the BPCL order, Sarika Bhatia, Director at Servotech Power Systems Ltd, said, “Servotech is extremely pleased to work with BPCL and is dedicated to upholding the trust BPCL has placed in us. We have consistently demonstrated our manufacturing capabilities, with our production team tirelessly focusing 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, top-notch EV chargers cater to the growing demand for sustainable EV charging solutions across India, enhancing the accessibility, affordability, and availability of EV charging facilities for a wider demographic of EV users.