Shares of Power Mech Projects hit a new high of Rs 5,062.25, as they zoomed 20 per cent on the BSE in Monday’s intra-day trade in an otherwise subdued market after the company said it bagged a Mine Development and Operation (MD) project for an estimated value of Rs 30,438 crore from Steel Authority of India Limited (SAIL).
The company has won Tasra Open Cast Project (OCP) located in Jharia Coal Fields, Ohanbad, Jharkhand. The duration of the contract is 28 years (including 2 years of development period), the company said.
