Power Mech Projects shares surged more than 4% in early trade on March 17, 2026, after the company announced a major order win from Adani Infrastructure Management Services, a part of the Adani Group. The strong order inflow boosted investor sentiment, pushing the stock closer to the day’s high levels.
The company has secured a contract worth ₹709.56 crore for operations and maintenance (O&M) services at a large thermal power plant in Maharashtra. The project is related to the 5×660 MW Tiroda thermal power plant, one of the key power generation facilities in the state.
The scope of work includes comprehensive operations and maintenance services along with overhauling activities. The contract will be executed on a KPI-based structure, indicating performance-linked deliverables as outlined in the tender documents and subsequent clarifications.
The duration of the contract spans five years, beginning April 1, 2026, and ending March 31, 2031. The total contract value of ₹709.56 crore includes all taxes and duties but excludes Goods and Services Tax (GST).
Importantly, the company clarified that the deal is not a related party transaction, and the promoter group of Power Mech Projects does not have any interest in the awarding entity. The contract has been awarded by a domestic entity, further strengthening Power Mech’s domestic order book.
Following the announcement, Power Mech shares witnessed strong buying interest in morning trade. As of 9:18 AM IST, the stock touched an intraday high of ₹1,988.60, compared to the previous close of ₹1,876.50. The stock opened at ₹1,969.90 and recorded a low of ₹1,935.20 during the session. Trading volumes remained active, with over 1.03 lakh shares changing hands.
Despite the recent uptick, the stock remains significantly below its 52-week high of ₹3,415.00, while the 52-week low stands at ₹1,804.60.