Earlier, the company secured a rooftop solar project worth around Rs 74 crore under the PM Surya Ghar: Muft Bijli Yojana.
Shares of EV charger manufacturer Servotech Renewable Power System were in focus today after the company informed exchanges that it had achieved a significant milestone from the Indian Patent Office. According to the information shared, it has received a patent for its innovation, “System and Method for Charging an Electric Vehicle.” According to the information shared, the innovation enables seamless charging of GBT-based electric vehicles using CCS2 DC fast chargers.
“Servotech’s patented device acts as a smart converter that, when connected to a CCS2 charger, allows GBT vehicles to charge safely, quickly, and efficiently. This breakthrough not only optimises charging infrastructure utilisation but also ensures that existing vehicle owners are not left behind in the technological shift,” the company said in an exchange filing.
Share Price Today
The stock started the trading session in the red at Rs 94.68 against the previous close of Rs 94.60 on the National Stock Exchange (NSE). However, the counter later rose to touch the high of Rs 98.50. The counter ended the trading session in the red at Rs 94.60, representing a fall of 0.08 per cent. The market cap of the company stood at Rs 2,136.50 crore.
The counter has a 52-week high of Rs 189.67 and a 52-week low of Rs 94.01.
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), Servotech 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).
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
