Servotech Power Systems share price jumped 4% following the signing of a definitive trade agreement with Enovra Energy Solutions Limited, a company based in Mauritius.
As part of this agreement, Servotech will provide EV chargers and solar solutions to Enovra Energy Solutions Limited, which will then distribute and deploy these products throughout Mauritius and neighboring areas, according to the filed documents.
In an exchange filing, the company announced that through this agreement, both organizations have formed a binding commitment that guarantees long-term business stability and emphasizes the seriousness and scalability of their partnership.
Enovra Energy Solutions, a prominent entity in Mauritius’s renewable energy industry, will serve as the exclusive representative of Servotech on the island. With this partnership, Enovra is set to distribute Servotech’s range of products, including solar solutions and electric vehicle chargers, supported by manufacturer-backed technical assistance, thereby offering an accessible renewable energy experience in Mauritius with economical solar and EV options to encourage the uptake of green energy in the nation.
This collaboration not only enhances Servotech’s global presence but also aligns with Enovra’s objective to improve clean energy accessibility in Mauritius and other regions.
“This agreement is an important milestone in our journey of global expansion. By extending our roots to Mauritius through our partnership with Enovra Energy Solutions Limited, we are not only strengthening Servotech’s international presence but also advancing the global adoption of green energy.
With EV chargers and solar solutions manufactured in India, we are creating value that extend beyond borders, bringing sustainability to international communities while contributing to India’s vision of becoming a global clean energy leader. We look forward to building on this partnership and taking decisive steps toward a greener and more connected world,”said Raman Bhatia, Managing Director, Servotech Renewable Power System Ltd.
Servotech Power Systems share price today
Servotech Power Systems share price today opened at ₹133.90 per share on the BSE, the stock touched an intraday low of ₹132.11 per share, and intraday high of ₹137.98 apiece.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Servotech Power Systems share price witnessed a strong traction last week, but are trading on sluggish note as it has approached 200SMA, going ahead 140 is key resistance, and beyond it 155 could open on the flip side, 127 is strong support.
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