Servotech Share Price: Shares of Servotech Renewable Power Systems gained 11.42 per cent on June 4, 2025, extending gains for the second consecutive day. Stocks of the renewable energy company has rallied 33 per cent over the previous two days, amid heavy volumes. The stock’s counter saw 14.26 million shares changing hands in today’s trade. In the previous session, 10.91 million shares had changed hands. This is much higher as against its previous one month’s daily average of 735,000 shares.
Servotech Renewable Power Systems operates as a key manufacturer and supplier of renewable energy solutions. The company offers a wide range of AC and DC chargers compatible with various electric vehicles for both commercial and residential use.
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What Triggered Rally In Servotech Share Prices
The strong rally has come amid Errol Musk’s visit to India. Errol, the father of world’s richest person Elon Musk, was recently appointed as a strategic advisor to Servotech’s global advisory board. The rally was also supported by a significant order win by the company.
Errol Musk’s India Visit: The 78-year-old father of Elon Musk, is on a five-day visit to India. He came on June 1 and will stay till June 6. His India tour is focussed on promoting green technology.
“India has made great strides in the green tech sector. The demand for this kind of charging and storing of electricity is going to grow at least 10-fold in the next five years. In terms of finance, it can grow from a $10 billion industry to a $150 billion industry within five years in India.” Errol told PTI
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While Errol Musk is here, he also visited Servotech’s manufacturing facilities. The company shared pictures and videos from his visit to Servotech on their official X (formerly Twitter) account.
In one post, the company said, “Mr. @errol_musk, Global Advisor to Servotech Renewable Power System Ltd., visited our state-of-the-art manufacturing unit in Sonipat, Haryana, today! He witnessed firsthand the innovative production of EV chargers, solar solutions, and other sustainable technologies, showcasing India's 'Make in India' excellence. His visit underscores the growing global interest in India's green technology ambitions and Servotech’s mission to drive sustainable development.”
Order Win: On June 3, 2025 post market hours, Servotech announced that it has received an order for a 7.8 MW grid-connected solar rooftop project by the Rangiya Division of the Northeast Frontier Railway. “The order, valued at Rs 336 million, also includes a comprehensive 5-year annual maintenance contract (AMC)/comprehensive annual maintenance contract (CAMC) for various buildings within the Rangiya Division,” the company said in an exchange filing.
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It added: “The installation of 7.8 MW of solar capacity will significantly contribute to the Northeast Frontier Railway’s sustainability initiatives and reduce its carbon footprint by harnessing clean, renewable energy. The project is expected to play a key role in the railway’s efforts to adopt more sustainable energy practices, contributing to both operational efficiency and environmental responsibility.”
