India's Servotech Renewable Power falls on order cancellation

Servotech Renewable Power System

04/03/2026 04:07

** India's Servotech Renewable Power System SERO.NS falls 4% to 67 rupees, set for second straight session of losses

** Co says New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) cancels order worth 737 million rupees  ($8.00 million) awarded in November

** Certain payment and commercial terms were revised from those specified in the original tender conditions -- co

** Order stands closed as NREDCAP expressed its inability to proceed under the modified structure

** YTD, SERO down 15%

($1 = 92.1690 Indian rupees)

 (Reporting by Komal Salecha in Bengaluru)

 ((Komal@thomsonreuters.com))