Power Mech Projects rose 3.7% to Rs 560 after the EPC company received letters of award for orders worth Rs 734 crore.The company received a Rs 401 crore order from Vedanta for operating & maintaining of boilers & auxiliaries, TG & auxiliaries, DM plant, electrical, filed operations and other miscellaneous jobs of 4 x 660 MW, thermal power plant at Jharsuguda, Odisha.
It bagged EPC work order worth Rs 198 crore from Kurmitar Iron Ore Mining for design & engineering, supply, installation, commissioning and PGT of 9 MTPA ore handling package at primary area in Odisha.
The company won an all civil, architectural and structural work order worth Rs 135 crore for main plant for 2X660 MW Khurja STPP (turbine generator and associated packages) from BHEL at Khurja, Uttar Pradesh.
Rohit Singre, Senior Technical Analyst at LKP Securities said, "Nifty has formed immediate support near 14,640-14,580 zone and good resistance is coming near 14,810 zone. Any break above said levels can push index towards 15,000-mark again."
Big Story | IPO lessons for investors
Keerthi Sanagasetti
BL Research Bureau |
Updated on
February 20, 2021
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With initial public offerings galore, we give you a cheat sheet to score some good grades
With the stock markets on fire, it’s been raining IPOs in the past few months. About 14 initial public offerings were made in the second half of 2020, collectively raising ₹16,272 crore. Just short of two months into 2021, as many as five IPOs have hit the market and many more are in the pipeline. In most issues, retail investors have joined the IPO bandwagon by the droves, going by the subscription numbers.