Introduction:
Leading power solutions provider has secured a significant INR 55.43 crore order for designing, supplying, and commissioning 132/33 kV substations, showcasing its expertise in delivering innovative and reliable infrastructure solutions for the energy sector.
Also Read: Infra stock in focus after it sells stake in 11 Spvs for ₹2,324 Cr
Share price movement of Promax Power:
On December 31, 2024, Promax Power Ltd opened at ₹42.89, up 6.57% from its previous close of ₹40.25. The stock reached a high of ₹44.27 (9.99%) and a low of ₹42.89. By 12:17 PM, it traded at ₹44.27, hitting the upper circuit with a market cap of ₹110.68 crore.
Promax Power Secures ₹55.43 Cr Substation Project Order:
Promax Power Limited announced securing a prestigious INR 55.43 crore order for 132/33 kV substations. The project entails the design, supply, erection, testing, and commissioning of substations, transformers, and control room buildings, underscoring its technical expertise.
The scope includes constructing four 132 kV substations, installing 31.5 MVA transformers, and developing 132 kV bays. This ambitious project highlights Promax Power’s commitment to innovation and timely delivery, reinforcing its leadership in complex power infrastructure projects.
The company remains dedicated to excellence, ensuring stakeholder satisfaction and contributing to robust power infrastructure. This announcement aligns with regulatory compliance, reflecting investor confidence and growth potential.
Ace investor holding in Promax Power:
Hemanth Kumar Chebrolu
Hemanth Kumar Chebrolu owns a 4.24% stake in Promax Power Limited, holding 1,060,000 shares valued at ₹4.7 crore. His substantial investment highlights strong confidence in the company’s performance and future growth in the power sector.
Parag Shah
Parag Shah holds a 2.40% stake in Promax Power Limited, amounting to 600,000 shares valued at ₹2.7 crore. This significant investment underscores confidence in the company’s growth and strong position in the power infrastructure sector.
Stock performance of Promax Power for Period of 1 week, 6 months and 1 year:
Promax Power Limited has posted a 5.78% return over the past week, a 25.4% decline over the last six months, and a 48.6% gain over the past year, reflecting strong annual growth despite recent short-term fluctuations.
Also Read: Railway stock jumps 3% after it receives order worth ₹137 Cr from Central Railway
Shareholding pattern of Promax Power:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 69.20% | 71.20% | 64.80% |
| FII | 0.00% | 0.00% | 0.00% |
| DII | 0.10% | 0% | 0.00% |
| Public | 30.70% | 28.70% | 35.20% |
About Promax Power:
Promax Power Limited (BSE: 543375) is an engineering company offering high-quality design, engineering, and technical solutions. With a skilled team and diverse expertise, it delivers cost-effective, reliable services for large-scale projects, ensuring customer satisfaction and operational efficiency.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
