Shares of jumped 5% in intraday trade on Monday, June 22, after the company announced that it had secured a major order worth ₹1,008.90 crore from JSW Thermal Energy Ltd.
In an exchange filing on Saturday, the company said the contract pertains to civil and structural works for the Boiler, Turbine and Generator (BTG) area of JSW Thermal Energy’s 2×800 MW thermal power project at Salboni, West Bengal.
The order, awarded by JSW Thermal Energy, is to be executed within 36 months from the effective date or commencement of work. The company said the contract is a domestic order and clarified that it does not involve any promoter, promoter group entity, or related-party transaction.
The latest order is expected to strengthen the company’s order book and improve revenue visibility, prompting investors to accumulate the stock following the announcement. Meanwhile, the company has remained in the spotlight in recent months after securing multiple large orders.
Earlier this month, the company won an order worth ₹266.26 crore from Adani Infrastructure Management Services Ltd. for a thermal power plant in Maharashtra. The contract involves providing KPI-based operations and maintenance services for a 2×300 MW thermal power plant at Butibori, Maharashtra, the company said in an exchange filing.
In mid-March, the company for similar operations and maintenance services at a major thermal power facility in Maharashtra, which is worth ₹710 crore.
In April, the company bagged a ₹296 crore order from Maha Mumbai Metro Operation Corporation Ltd. for the Mumbai Monorail project. The contract includes the operation and maintenance of the 19.54-km corridor comprising 17 stations for a period of five years.
Separately, the company had also received a contract from South Western Railway, Bengaluru, which is scheduled to be executed within 30 months.
Power Mech Projects share price trend
After facing prolonged selling pressure, the stock staged a strong comeback in April, surging 43%.
The momentum further strengthened in the current month, with the shares gaining another 17%. Between July 2025 and March 2026, however, the stock witnessed a sustained correction and lost nearly 50% of its value.
The stock is still trading roughly 21% below its record high of ₹3,725 per share, despite having partially recovered from those losses. Looking back, the stock delivered positive returns in four of the last five calendar years, including multibagger gains in 2021, 2022, and 2023.
Cumulatively, the stock has generated a return of around 720% over the last five years.
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