InvestorQ : Can you tell me about how Power Mech is looking as a stock?
prachi Patwardhan made post

Can you tell me about how Power Mech is looking as a stock?

Answer
image
sara Kunju answered.
6 months ago
Follow

Power Mech Projects, a construction and project execution company based out of Hyderabad, has secured Rs.9,294 crore MDO project from Central Coalfields Limited. Now MDO refers to Mine Development and Operation contracts and CCL is a subsidiary of Coal India. You would recollect that the government has currently taken up a major asset monetisation drive for state owned assets.

Under this asset monetization drive, Coal India and Neyveli Lignite will offer 60 projects worth Rs.41,042 crore for private investment. This order to Power Mech is part of the 17 MDO projects that the coal companies plan to hive out. The contract entails mine development, removal of overburden and extraction of coking coal. This is likely to make a huge difference to the order book quality of Power Mech.

4 Views