Shares of Servotech Renewable Power System Ltd, an NSE-listed company that develops tech-enabled EV charging solutions, are in focus after the company informed exchanges that it has incorporated a wholly owned subsidiary. Following this, the stock started the session flat at Rs 65.85, even as benchmark equity indices Sensex and Nifty drifted lower in early trade amid heightened geopolitical tensions, weak global markets, and persistent foreign fund outflows that rattled investor sentiment. The 30-share BSE Sensex dropped 385.82 points to 81,794.65 in opening trade. The 50-share NSE Nifty declined 91.5 points to 25,141.
The stock later touched the intraday high and low of Rs 66.60 and 63.10, respectively. Last seen, the stock was trading at Rs 64.08, a fall of Rs 1.77 or 2.69 per cent. The market cap of the company stood at Rs 1,445.18 crore.
52-week high and low
The stock has a 52-week high of Rs 168.50, hit on June 4, 2025, and a 52-week low of Rs 63.10.
The stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Its 14-day relative strength index (RSI) is 17.87. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Bags project under PM Surya Ghar scheme
Earlier, the company secured a rooftop solar project worth around Rs 74 crore under the PM Surya Ghar: Muft Bijli Yojana.
The project has been awarded by the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP), the company said in a statement.
"Under this mandate, Servotech Renewable will conduct design, engineering, supply, installation, testing, and commissioning of rooftop solar plants in varying capacities for 5,886 scheduled caste (SC) and scheduled Tribe (ST) households," the company stated.
The project will be implemented through a utility-led aggregation model and includes 5 years of comprehensive operation and maintenance (O&M).
The PM Surya Ghar: Muft Bijli Yojana is the world's largest domestic rooftop solar initiative, transforming India's energy landscape with a bold vision to supply solar power to one crore households by March 2027.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
