Power MAC Projects has received a contract worth Rs 510 crore from Adani Power for mechanical construction. Power Mac Projects said in the information given to the stock market on Friday that mechanical construction work is to be done in a thermal power project of Adani Power in Chhattisgarh. Power Mac Projects said, “The company has received an order worth Rs 510 crore (without GST) from Adani Power Limited. This order is for mechanical construction works for the second phase of Ultra Supercritical Thermal Power Project consisting of two units of 800-800 MW in Raipur. The company said that its aim is to complete this project in 34 months.
Strong rise seen in shares of Power Mac Projects
Let us tell you that on Friday, a strong increase of 1.94 percent was seen in the shares of Power Mac Projects. The company's shares, which closed at Rs 2779.10 on Thursday, opened with a big jump today at Rs 2841.95. During trading, the company's shares traveled from an intraday low of Rs 2763.90 to an intraday high of Rs 2862.20 and finally closed at Rs 2833.00 with a gain of Rs 53.90. Power Mac Projects shares have 52 week high of Rs 3725.00. According to BSE data, the current market cap of the company is Rs 8956.90 crore.
Adani Power shares closed with a fall of 1 percent
On the other hand, today a decline of 1.01 percent was recorded in the shares of Adani Power. The company's shares, which closed at Rs 560.20 on Thursday, opened with a rise today at Rs 563.40. During trading, the company's shares rose from an intraday low of Rs 542.45 to an intraday high of Rs 587.70 and finally closed at Rs 554.55 with a loss of Rs 5.65. The 52 week high of Adani Power shares is Rs 896.75. This simply means that the shares of the company are trading much below their 52 week high. The current market cap of Adani Group's power company is Rs 2,13,886.55 crore.
Image Credit: India_Tv.