India's Power Mech Projects jumps on multiple deals
26/12/2022 07:08
** Shares of infrastructure construction firm Power Mech
Projects POMP.NS rise as much as 7.5% to 1,979 rupees, their
highest intraday pct gain since Nov. 16
** POMP says it received letters of award for multiple
orders worth 10.34 bln rupees ($125.02 mln)
** These include a 6.08-bln rupees deal with Adani Group,
3.07-bln rupees order for setting up an eagon repair workshop in
Telangana and a project worth 1.20 bln rupees in Nigeria
** More than 49,000 shares change hands by 12:08 p.m. IST,
1.2x 30-day avg of 40,398 shares
** One analyst covering the stock has a "strong buy" rating;
median PT is 2,358 rupees - Refinitiv data
** Stock up 96.15% YTD, as of last close
($1 = 82.7040 Indian rupees)
(Reporting by Ashish Chandra in Bengaluru)
((ashish.chandra@thomsonreuters.com (+91 7982114624))