Shares of Servotech Renewable Power System traded higher in intraday trade on Wednesday despite a sharp decline in the domestic stock market.
The renewable energy sector stock reacted as the company posted its financial results for the April-June quarter of the current financial year (Q1 FY27).
The stock started the session in the green at Rs 100.70--up as compared to last day's closing of Rs 100.48. Amid buying momentum in the stock post the Q1 results announcement, the stock escalated its rally further to hit an intraday high at Rs 105.11, up nearly 5 per cent from last closing.
However, the stock erased all of its gains amid profit booking. Last seen, Servotech Renewable and Power stock was trading at Rs 99.96, down 0.52 per cent or Rs 0.52.
Share Price History
The stock jumped over 27 per cent this year till date (YTD), while in the last six months, the stock rose over 55 per cent. However, in a year, the scrip fell nearly 30 per cent.
Hari Tibrewal's company Zenith Multi Trading DMCC has a stake in Servotech Renewable Power Systems (in the FIIs category).
Q1 Results
According to an exchange filing, the tech-enabled EV charging solutions maker's revenue grew 74.5% year-on-year (YoY) to Rs 7.94 crore, from Rs 4.55 crore in the same quarter last year.
The NSE-listed company reported a 57.7 per cent year-on-year increase in consolidated revenue to Rs 216.29 crore, from Rs 137.17 crore in the same quarter last year.
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