The 52-week high and low of the stock are Rs 75.50 and Rs 205.40, respectively. The market cap of the company is Rs 2,874 crore.
Mumbai: Shares of home-grown Servotech Renewable Power System Ltd gained more than 5 per cent today, i.e. on May 05, after the company shared details about the appointment of prominent entrepreneur and worldwide business strategist Errol Musk on its Global Advisory Board. The counter opened in the green at Rs 124.50 on the NSE against the previous close of Rs 121.84 on the NSE. It gained further and hit an intraday high of Rs 128.48 – a gain of 5.44 from the closing price of the last trading session.
The 52-week high and low of the stock are Rs 75.50 and Rs 205.40, respectively. The market cap of the company is Rs 2,874 crore.
The company, in an exchange filing, said that Musk will play a pivotal role in advancing Servotech’s strategic vision for global growth, sustainability leadership, and AI-driven innovation.
“His appointment aligns with Servotech’s ambitious ‘Vision 2027’ goal to transform the renewable energy landscape across India and key international markets,” the company said.
Earlier, the company inked a pact with the Chamber of Indian Micro, Small & Medium Enterprises (CIMSME) to boost adoption of solar energy across India.
Under the PM Surya Ghar Muft Bijli Yojana, they aim to install 100,000 solar rooftop systems in homes by 2026, a statement said.
A key component of this initiative is the launch of a dedicated, user-friendly mobile application, developed by CIMSME in collaboration with Servotech.
This app simplifies the entire solar adoption process, offering homeowners a seamless experience from initial roof inspection and documentation to installation, system monitoring, and subsidy application assistance, the statement said.
To ensure efficient nationwide implementation, CIMSME will mobilise a network of approximately 30,000 individuals.
Operating on a PIN code basis, this dedicated workforce will facilitate sales, provide on-the-ground support, and oversee the installation process.
With PTI inputs
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
