Servotech Power Systems, a charging solutions provider for electric vehicles, has partnered with the Gautam Adani Group company to supply EV chargers. The company has signed a contract with Adani Total Energies e-Mobility, where Servotech Power Systems will be responsible for manufacturing, supplying, and installing AC EV chargers at various airports and other locations.
This collaboration is expected to lead to larger EV charger orders for Servotech Power Systems in the future, with the aim of creating a user-friendly e-transportation hub and simplifying navigation for EV users.
In terms of share status, Servotech experienced heavy selling on Wednesday, resulting in the stock closing at Rs 97.25 on the NSE. The stock hit a lower circuit of 5 percent after reaching a 52-week high of Rs 108.70 on February 6.
Despite this, brokerage firm Prabhudas Lilladher believes that Servotech shares have a strong base at ₹88 level and may potentially reach ₹112 per share if the current hurdle at ₹100 is crossed decisively. The brokerage advises holding the stock and placing a stop loss at ₹88.
It is important to note that the information provided is not investment advice, but rather a mention of the stock’s performance and expert opinion. Investors should exercise discretion before making any investment decisions.
Summary:
★Servotech Power Systems has partnered with the Gautam Adani Group to supply EV chargers.
★Servotech will manufacture, supply, and install AC EV chargers at various locations.
★The collaboration aims to create a user-friendly e-transportation hub and simplify navigation for EV users.
★Servotech shares experienced heavy selling, closing at Rs 97.25 on the NSE.
★Prabhudas Lilladher believes that Servotech shares have a strong base and may reach ₹112 per share if a hurdle at ₹100 is crossed.
★This information is not investment advice; discretion should be used before investing.
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