Pace Digitek Shares Jump 13 Percent After Big Subsidiary Order

Shares of Pace Digitek rose by up to 13 percent in Tuesday trade on the BSE after its subsidiary secured a major contract. The stock opened at 155.55 rupees compared to the previous close of 154.80 rupees and went up to an intraday high of 174.90 rupees on Tuesday, 22 September.

Order Details

The company announced in an exchange filing on 21 September that its material subsidiary, Lineage Power Private Limited, received a letter of award worth 488.46 crore rupees from NTPC GE Power Services Private Limited. This project is for the BESS Project at Barh STPP across NTPC Stages I and II, and the work must be completed by 31 December 2026.

Project Scope

The project involves supplying, testing, supervising, and setting up BESS containers along with Battery Management Systems and Energy Management Systems. The deal also includes five years of annual maintenance services and an additional seven-year extended warranty for the battery containers.

Management Comments

Venugopalrao Maddisetty, who serves as the Chairman and Managing Director of Pace Digitek, stated that the order helps build Lineage Power Private Limited as a product-led BESS business. Maddisetty added that the company plans to scale its manufacturing capacity and build a broader energy platform for utility-scale needs.

Stock Performance

Even with this jump, the stock is down 9 percent so far this year, while the Sensex has fallen by 12 percent. The stock previously hit a 52-week high of 232.20 rupees on 10 October last year and a 52-week low of 139.50 rupees on 30 March.