Power Mech Projects shares rise 4% after company secures Rs 549 crore order from Adani Group firm
According to the company’s exchange filing, the order involves providing complete operation and maintenance (O&M) services for the 2×600 MW Moxie Power Generation Ltd Tuticorin Thermal Power Plant (TPP).
The contract has been awarded by a domestic entity and covers operations and maintenance services. The contract period is 60 months, starting from October 1, 2026, and ending on September 30, 2031.
The order is valued at Rs 549.37 crore, including all taxes and duties, except Goods and Services Tax (GST). The company said that the promoter or promoter group has no interest in the entity awarding the contract, and the order does not fall under related-party transactions.
Power Mech Projects provides infrastructure construction and development services across sectors including power and infrastructure. The company undertakes projects related to power generation, transmission and distribution, railways, water infrastructure and other construction activities.
Share price, valuation and technical indicators
Following Wednesday’s gains, Power Mech Projects had a market capitalisation of around Rs 7,579 crore. The stock’s 52-week high stands at Rs 3,007.
On the valuation front, the company’s price-to-earnings (P/E) ratio stands at 19.11, while its price-to-book (P/B) ratio is 2.89.On the technical front, Trendlyne data shows that the stock’s 14-day Relative Strength Index (RSI) stands at 46.9. An RSI below 30 is generally considered to indicate an oversold zone, while a reading above 70 is considered overbought. Power Mech Projects is currently trading above six of its eight simple moving averages (SMAs), while remaining below its 50-day and 100-day SMAs.
In the June 2026 quarter, foreign institutional investors (FIIs) and mutual funds increased their holdings in the company. FII holdings rose to 6.54% from 6.48% in the previous quarter, while mutual fund holdings increased to 19.78% from 19.37%.
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