Power Mech Share Price | This power sector stock is in a bullish trend, will make investors rich – Hindi News
Power Mech Share Price | Amid a historic rally in the stock market, shares of Power Mech Projects Limited fluctuated on Thursday, September 19. The stock rose 1 per cent in early trade. However, profit booking was seen in the shares in the afternoon. During trading, the company's stock reached a high of Rs 6,635.55. Earlier, on August 23, 2024, the stock had gone up to Rs 7,450. This is also a 52-week high for the shares. The company had recently announced the distribution of bonus shares. (Part of Power Mech Projects Limited Company)
Order worth Rs 865 crore
Power Mech Projects Limited announced that the company has received orders worth Rs 865 crore. The order was received from Vedanta subsidiary Talwandi Sabo Power Limited for operation and maintenance of a 3×660 MW supercritical thermal power plant at Banwala village in Mansa district of Punjab. The company said the contract will be completed within five years from November 1, 2024.
Declaration of bonus shares
Recently, Power Mech Projects has issued one bonus share for every share held to shareholders. This was the first time the company had issued bonus shares to its shareholders. The company has never split the stock before. But dividends have been paid to shareholders. The board of directors of Power Mech has set the record date for bonus issue as September 28, 2024.
The IPO came nine years ago
Power Mech Projects made its stock market debut in 2015 at Rs 640 per share. Since then, the shares have risen nine times from their IPO price. The stock has gained 785% in the last five years. This means that these stocks have provided multibagger returns to their investors over time. On Thursday, the company's stock closed at Rs 6,450.
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