Servotech Power Systems locked in upper circuit on BPCL order win

Shares of Servotech Power Systems Limited were locked in a 5 percent upper circuit at Rs 79.10 in the early trade on November 23 after the company announced receiving an order for EV chargers from Bharat Petroleum Corporation Limited (BPCL)."The company will be responsible for manufacturing, supplying andinstalling 2649 AC EV chargers strategically across the nation, equipping

petrol pumps in major Indian cities under the BPCL E-drive Project", Servotech said in an exchange filing on November 22.

Follow our market blog for all the live action

The range of EV chargers includes 3 kW and 7 kW for this project. The manufacturing and production of these had begun. The supply will commence on December 15 and is expected to be completed within three months.

"Servotech Power Systems will oversee the installation, commissioning, and upkeep of AC EV chargers and this initiative aims to establish e-mobility touchpoints that streamline transactions, enhance availability, facilitate discovery, and simplify navigation for EV users, ensuring convenient access to the EV charging network," the exchange filing added.

Earlier, too, the company supplied and installed 800 units of 30 KW DC fast EV chargers at different locations across the country for BPCL.Director Sarika Bhatia said, "Implementing these chargers will not only enhance the convenience of EV charging but will also contribute significantly to reducing the carbon footprint associated with

transportation".Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before making any investment decisions.