Power Mech Projects has secured a Rs 294 crore (excluding GST and an incentive amount of Rs 1.25 crore per unit after achieving the Synchronization within stipulated time) order from Adani Power (APL) for Overhauling services, condition assessment, Erection, Testing, Commissioning and manpower assistance for Performance Guarantee Test of Steam Generator (SG) and Steam Turbine Generator (STG) and its Auxiliaries for Unit 3 and 4 of 2x660 MW Korba Phase-II Thermal Power Project.Powered by Capital Market - Live

The headline equity indices traded with modest gains in early afternoon trade. The Nifty climbed above the 23,700 level after hitting the day's low of 23,562.80 in morning trade. Financial services shares advanced after declining in the past two consecutive trading sessions. At 12:30 IST, the barometer index, the S&P BSE Sensex rose 408.49 points or 0.52% to 78,547.50. The Nifty 50 index added 100.10 points or 0.42% to 23,744.90. In the broader market, the S&P BSE Mid-Cap index rose 0.07% and the S&P BSE Small-Cap index rallied 0.70%. The market breadth was strong. On the BSE, 2,569 shares rose and 1,232 shares fell. A total of 156 shares were unchanged. Economy: India's fiscal deficit reached Rs 8.5 lakh crore in the first eight months of the fiscal year (April-November), representing 52.5% of the budgeted target, according to government data released on December 31st. This exceeds the deficit recorded during the same period in the previous fiscal year, which stood at 50.7%. Capital expenditure, though improving, lagged behind last year's pace. At Rs 5.13 lakh crore, it amounted to 46.2% of the budgeted target of Rs 11.1 lakh crore, compared with 58.5% achieved in the corresponding period of the previous fiscal year. Overall government spending reached 60.1% of the budgeted target, slightly higher than the 59% recorded in the previous year. Revenue receipts fell short of last year's levels. Net tax revenue collection stood at 55.9%, lower than the corresponding figure in the previous year. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 1.73% to 14.70. The Nifty 30 January 2025 futures were trading at 23,863.95, at a premium of 119.05 points as compared with the spot at 23,744.90. The Nifty option chain for the 30 January 2025 expiry showed a maximum Call OI of 139 lakh contracts at the 24,500 strike price. Maximum put OI of 120.4 lakh contracts was seen at 23,000 strike price. Buzzing Index: The Nifty Financial Services index rose 0.50% to 23,630.90. The index shed 0.66% in the past two trading sessions. Muthoot Finance (up 1.74%), Bajaj Finance (up 0.95%), SBI Cards & Payment Services (up 0.87%), Shriram Finance (up 0.83%), Bajaj Finserv (up 0.71%), ICICI Bank (up 0.6%), HDFC Bank (up 0.58%), ICICI Lombard General Insurance Company (up 0.4%), SBI Life Insurance Company (up 0.35%) and LIC Housing Finance (up 0.34%) advanced. On the other hand, HDFC Asset Management Company (down 0.8%), ICICI Prudential Life Insurance Company (down 0.79%) and Power Finance Corporation (down 0.46%) edged lower. Stocks in Spotlight: Power Mech Projects added 3.67% after the firm secured a Rs 294 crore order from Adani Power for overhauling, testing, and commissioning services for units 3 and 4 of 2x660 MW Korba Phase-II thermal powers. VA TECH WABAG rose 0.93%. The company said that it has secured an order worth Rs 145 crore from Chennai Petroleum Corporation (CPCL) for installing desalination water pipelines at CPCL's Kattupalli plant. Kalpataru Projects International (KPIL) rose 0.88%. The company announced that the company and its international subsidiaries have received new orders worth Rs 1,011 crore.Powered by Capital Market - Live

Shares of Adani Power shed 0.37% to currently trade at Rs 527.20 on the BSE. The order envolved providing overhauling services, condition assessment, erection, testing, commissioning, and manpower assistance for performance guarantee tests of steam generators (SG) and steam turbine generators (STG) and their auxiliaries for units 3 and 4 of the 2x660 MW Korba Phase-II thermal power project. The consideration for this contract is Rs 294 crore, and it is to be executed for unit-3 of SG and STG within 12 months from the date of notice to proceed and for unit-4 of SG and STG within 18 months from the date of notice to proceed. Hyderabad-based Power Mech Projects is one of the leading infrastructure construction companies. Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India. Powered by Capital Market - Live

The project entails providing field operation and maintenance services for the 2 x 660 MW Jaypee Nigrie Super Thermal Power Plant located in Nigrie, Madhya Pradesh, over a five-year period starting from 1 January 2025 to 31 December 2029. The project value for the first year will be Rs 3.10 crore per month. Thereafter, a monthly price escalation based on the wholesale price index (WPI) will be applicable for the remaining period of 48 months, from 1 January 2026 to 31 December 2029. Hyderabad-based Power Mech Projects is one of the leading infrastructure construction companies. The company reported a 35.60% jump in consolidated net profit to Rs 69.51 crore on a 11.04% increase in revenue from operations to Rs 1,035.49 crore in Q2 FY25 over Q2 FY24.Powered by Capital Market - Live

Power Mech Projects has received an order worth Rs 510 crore from Adani Power, related to the performance of Mechanical construction works for 2x800 MW Raipur Phase-II Ultra Supercritical Thermal Power Project (Project), at Raikheda village in Raipur District, Chhattisgarh - 493225.Powered by Capital Market - Live

The contract entails mechanical construction works for a 2x800 MW Raipur Phase II Ultra Supercritical Thermal Power Project at Raikheda village in Raipur District, Chhattisgarh. The consideration for this contract is Rs 510 crore, and it is to be executed in 34 months. Hyderabad-based Power Mech Projects is one of the leading infrastructure construction companies. The company reported a 35.60% jump in consolidated net profit to Rs 69.51 crore on a 11.04% increase in revenue from operations to Rs 1,035.49 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

Revenue from operations increased 11.04% to Rs 1,035.49 crore during the quarter as compared with Rs 932.49 crore posted in same period last year. Profit before tax rose 25.71% YoY to Rs 100.90 crore in Q2 FY25 over Q2 FY24. Total expenses stood at Rs 944.05 crore in Q2 FY25, up 10.51% to Rs 854.22 crore in Q2 FY24. Cost of material consumed was Rs 170.78 crore (up 30.14% YoY), contract execution expenses stood at Rs 568.49 crore (up 6.03%YoY), employee benefit expenses was at Rs 154.41 crore (up 10.22% YoY) during the period under review. On half year basis, the company's consolidated net profit rallied 28.35% to Rs 131.24 crore on 13.64% increase in revenue from operations to Rs 2,042.89 crore in H1 FY25 over H1 FY24. Hyderabad-based Power Mech Projects is one of the leading infrastructure-construction companies. Shares of Power Mech Projects declined 2.17% to close at Rs 2,676.65 on Tuesday, 12 November.Powered by Capital Market - Live

Net profit of Power Mech Projects rose 30.82% to Rs 67.07 crore in the quarter ended September 2024 as against Rs 51.27 crore during the previous quarter ended September 2023. Sales rose 11.05% to Rs 1035.49 crore in the quarter ended September 2024 as against Rs 932.49 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1035.49932.49 11 OPM %11.8811.89 - PBDT114.2190.32 26 PBT100.9080.27 26 NP67.0751.27 31 Powered by Capital Market - Live

Power Mech Projects will hold a meeting of the Board of Directors of the Company on 11 November 2024Powered by Capital Market - Live

The company will provide comprehensive software development and technology services, including specialized SAP services. It aims to deliver innovative and efficient solutions tailored to our clients' needs, enabling them to enhance their operations, productivity, and competitiveness. The firm's services will encompass a wide range of activities, such as custom software development, web and mobile app development, database management, IT consulting, and support. Power Mech Projects is an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M). The company had reported 17.93% rise in consolidated net profit to Rs 60.13 crore on a 16.44% increase in sales to Rs 1,007.39 crore in Q1 FY25 over Q1 FY24. Shares of Power Mech Projects slipped 4.25% to end at Rs 2,764.45 on Friday, 25 October 2024. Powered by Capital Market - Live