Servotech Renewable Power System Limited has informed the Exchange regarding a press release dated Jun 02, 2026, titled "Servotech Renewable Signs ₹400 Crore MoU with Haryana Govt. to Expand Renewable Energy Manufacturing Capacity in the State".
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Servotech Renewable Power System Limited has signed a Memorandum of Understanding (MoU) worth ₹400 Crore with the Government of Haryana to expand its renewable energy manufacturing capacity in the state. The press release dated June 02, 2026 outlines the company's plans to scale up production facilities, likely supporting solar and clean energy equipment manufacturing. This move aligns with India's broader push for domestic renewable energy infrastructure and self-reliance. The investment is expected to create jobs and strengthen Servotech's position in the renewable energy value chain. Specific timelines, plant locations, and product categories will likely be detailed in future disclosures.
Positive for shareholders — the ₹400 Crore investment signals strong growth intent and potential revenue expansion, though the MoU is not a confirmed order and execution timelines remain to be seen. Stock may see short-term positive sentiment on the back of this announcement.