POWERMECH IN THE NEWS AFTER WINNING RS 1,005 CRORE ORDER WIN FROM ADANI POWER SUBSIDIARIES

has been in the news after it received two contracts aggregating to Rs 1,005 crore from Mirzapur Thermal Energy (UP) Private Limited and Mahan Energen Limited, both subsidiaries of ADANIPOWER. The contracts relate to erection, testing and commissioning works, along with manpower assistance for Performance Guarantee Tests of Steam Generators (SG) and Steam Turbine Generators (STG). These assignments are linked to 2×800 MW ultra supercritical thermal power units at the Mirzapur Phase-I and Mahan Phase-III projects. Having a market cap of Rs 6,865 crore, the company's stock price is trading at a decent P/E of 20.3 and strong ROCE & ROE of 22.9% & 16.3% respectively, making it a good opportunity for long term investing.