Servotech share price: Experts give 'buy' tag to solar, EV stock after Q4 results 2024

Triggers for Servotech stock price

Analysing the Q4 results 2024 of Servotech Power Systems, Avinash Gorakshkar, Head of Research astatine Profitmart Securities, said, 'The institution has not lone managed to study affirmative quarterly numbers, but it besides holds a strategical presumption successful the marketplace that whitethorn pb to continued affirmative maturation successful upcoming quarters. The institution is expected to payment importantly from the GoI's peculiar absorption connected alternate vigor sources. The institution has precocious managed to unafraid orders from assorted vigor PSUs, and this inclination is expected to turn further successful upcoming quarters. However, it is simply a portfolio stock, and determination tin beryllium a beardown bounce backmost successful the scrip aft the Lok Sabha elections results. So, immoderate dip successful the banal should beryllium seen arsenic a buying opportunity."

Also Read: Stock marketplace today: Why is India VIX Index skyrocketing during Lok Sabha polls?

Servotech stock terms target

On what Servotech stock terms illustration signifier signals, Ganesh Dongre, Senior Manager — Technical Research astatine Anand Rathi said, 'The banal whitethorn springiness inclination reversal successful the adjacent word arsenic it has made a beardown basal astatine ₹65 per stock level, which indicates a imaginable enactment level wherever buying unit could outweigh selling pressure. If this enactment remains sacrosanct, we whitethorn expect the star banal to interaction the ₹97 apiece level successful the adjacent term, a important absorption level wherever selling unit could outweigh buying pressure. On breaching this contiguous hurdle, we tin expect Servotech stock terms to interaction the ₹110 per stock people successful the mean term."

Servotech Q4 results 2024

On Thursday, Servotech Power Systems declared Q4 results for FY24. In Q4FY24, the company's Total Revenue witnessed maturation of 13.89% successful Q4 FY24 to Rs. 136.65 Cr & a maturation of 27.49% successful the twelvemonth ended FY24 to Rs. 355.26 Cr connected a YoY basis, respectively, led by robust request for our tech-enabled solutions successful the Solar and EV abstraction by our targeted customers. PAT accrued by 6.69% to Rs. 11.80 Cr successful FY24. EBITDA accrued by 18.05% to Rs. 22.36 Cr successful FY24 connected relationship of an summation successful the standard of operations, which was led by improving efficiencies and higher worth products."

Speaking connected Q4 results 2024 of the company, Raman Bhatia, MD astatine Servotech Power Systems Ltd, said, "Our awesome maturation tin beryllium attributed to our unwavering committedness to delivering cutting-edge, technologically precocious solutions successful the EV and star sectors. We've made important strides successful enhancing merchandise prime and efficiency, which has made our products the preferred prime of our people audience, consequently driving marketplace growth. We person not lone accrued our manufacturing capableness but person besides introduced impactful innovations successful EV chargers and star solutions. Having deployed much than 5600 EV chargers, we are delighted to support a beardown foothold arsenic a cardinal subordinate successful the EV charging industry, which has the imaginable to seizure important marketplace stock successful the EV charging solutions segment."

Disclaimer: The views and recommendations provided successful this investigation are those of idiosyncratic analysts oregon broking companies, and not Mint. We powerfully counsel investors to consult with certified experts earlier making immoderate concern decisions, arsenic marketplace conditions tin alteration rapidly and idiosyncratic circumstances whitethorn vary.

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Published: 10 May 2024, 03:01 PM IST