Pace Digitek shares surged as much as 13% in intraday trade on the BSE on Tuesday, 22 September, a day after the company announced receiving a letter of award (LOA) of ₹488.46 crore from NTPC GE Power Services. Pace Digitek shares opened at ₹165.55 against their previous close of ₹154.80 and jumped 13% to an intraday high of ₹174.90. An LOA is the official written document confirming the entity has been selected for the contract.
Pace Digitek wins order from NTPC
In an exchange filing after market hours on 21 September, Pace Digitek said its material subsidiary, Lineage Power Private Limited, had secured an order valued at ₹488.46 crore from NTPC GE Power Services Private Limited for the BESS Project at Barh STPP (NTPC Stages I & II).
The order is scheduled to be completed by 31 December 2026.
According to the company, the order comprises the supply, testing, supervision of erection and commissioning of BESS containers, together with Battery Management Systems (BMS) and Energy Management Systems (EMS). The order also includes five years of annual maintenance services (AMC) and a further seven-year extended warranty for the battery containers, providing lifecycle support for the deployed systems.
“This order is an important step in strengthening Lineage Power Private Limited as a product-led BESS business. It brings together product supply, commissioning and long-term lifecycle support, enabling us to deepen our participation across the BESS value chain and strengthen our engagement with customers beyond manufacturing,” said Venugopalrao Maddisetty, Chairman and Managing Director, Pace Digitek.
“As we scale our manufacturing capacity and strengthen localisation, integration and service capabilities, our focus is to build a broader Energy platform capable of serving utility-scale requirements as well as emerging C&I applications. We will continue to invest in the capabilities required to support customers across the lifecycle of energy-storage systems,” said Maddisetty.
Pace Digitek share price trend
The stock is down 9% year to date, compared with a 12% fall in the Sensex. It hit a 52-week low of ₹139.50 on 30 March this year after hitting a 52-week high of ₹232.20 on 10 October last year.
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