Sanghvi Movers shares rise 5% on wind project orders; all you need to know

Shares of Sanghvi Movers Ltd rose 5 per cent in Tuesday’s trade after the company announced that its material subsidiary, Sangreen Future Renewables Private Limited (SFRPL), has secured work orders worth Rs 292 crore from leading Independent Power Producers (IPPs).

On Tuesday, Sanghvi Movers' stock rose as much as 4.6 per cent to hit the day’s high of Rs 389.90 apiece on the BSE, over its previous close of Rs 372.65. At 10:28 am, the company shares were up 1.21 per cent at Rs 377.15. The scrip climbed 62 per cent in the last six months.

In a stock exchange filing on Monday, after market hours, Sanghvi Movers said the contracts are for Wind Balance of Plant (BOP) projects. The scope of work covers construction of wind turbine generator (WTG) civil foundations, internal roads, crane platforms, transportation of WTGs from storage yards to project sites, installation of WTGs, mechanical completion, internal 33kV line works, and development of distribution panel yards.

The company noted that the contracts have been awarded by domestic entities. Execution will begin in the second quarter of FY26 and is expected to be completed by the first quarter of FY27. “The aggregate order size is Rs 292 crores,” Sanghvi Movers said.

At current levels, the stock commands a price-to-earnings (PE) multiple of 24.56 and a price-to-book (PB) ratio of 3.10. The stock has a return on equity (ROE) of 12.60 per cent.

On a technical front, the counter shows strong momentum but is trading in overbought territory. The 14-day Relative Strength Index (RSI) stood at 73.3, while the Money Flow Index (MFI) was at 78.1. The scrip also reflects very high volatility with a one-year beta of 1.5. On the moving averages front, the stock is trading well above its 50-day SMA of Rs 302.2 and 200-day SMA of Rs 285.3.