EV stock Servotech Power Systems hits upper circuit after 15% rally in one month

Stock market today: Servotech Power Systems share price has been on an uptrend for one month. Shares of the EV charging solution provider company have risen from around ₹84.50 to ₹97.43 per share, recording more than a 15 per cent rise in this time. However, Servotech Power Systems Ltd share price still possesses some upside steam. Servotech Power Systems share price today opened with an upside gap at ₹90.60 and soon touched an intraday high of ₹97.43 per share. While climbing to this intraday high, the EV stock locked in a 10 percent upper circuit during Monday deals.

Servotech Power Systems news

The EV charging solution provider company was recently in the news. India's leading manufacturer of EV chargers and solar solutions, in collaboration with India's apex solar organization, the National Solar Energy Federation of India (NSEFI), recently inaugurated Delhi's first grid-connected Solar-Powered EV Charging Carport. This Solar-Powered EV Charging Carport, established as a pilot project at the Hauz Khas Village parking station, marks a significant milestone in sustainable energy and electric vehicle infrastructure. Servotech has manufactured, designed, and commissioned solar panels and EV chargers to establish the carport. Additionally, Servotech has been responsible for developing and implementing the overall infrastructure for the carport.

Last week, the EV stock declared an ESOP scheme for its employees, saying, “By the provisions of Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we at this moment inform you that Nomination and Remuneration Committee of Board of Directors in its meeting held on today, i.e. Wednesday, 3+ July 2024 had inter-alia approved the grant of 20,094 (Twenty Thousand Ninety-Four) options to the eligible employees of the Company as per ESOP Scheme 2022, which will be converted to equivalent no. of equity shares of the Company.”

Servotech Power Systems shares are available for trade on the NSE only. The market cap of this NSE-listed stock is ₹2,457 crore, and its current trade volume is 4,711,533. Around 40 minutes of trade are still left on Monday. The 52-week high of Servotech Power Systems' share price is ₹107.55, while its 52-week low is ₹69.50.

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