Multibagger energy stock hits upper circuit despite choppy session in stock market today

Multibagger stock: Shares of Servotech Power Systems Ltd are one of the multibagger stocks that Indian stock market has delivered in year-to-date (YTD) time. However, it seems that the energy stock has still some steam left. Despite choopy stock market sentiments during Wednesday deals, Servotech Power Systems shraes hit upper circuit. The multibagger stock opened upside today and hit 5 per cent upper circuit within few minutes of stock market's opening bell today. The energy company is in news these days for filing two patens for innovative energy management technologies.

Servotech Power Systems news

In one of its latest exchange filing, Servotech Power Systems Ltd informed Dalal Street exchanges about filing two patents that are titled — System and Method for Controlling Load Shifting by Third Party and "System and Method for Effective Energy Channelization from a Renewable Energy Source — respectively.

"These two patents are for innovative energy management technologies in order to facilitate grid service optimization through a battery energy storage system and to effectively channel renewable energy into BESS for maximum value, enabling the transition to sustainable energy. These innovations will transform energy management and will improve overall efficiency," the eenrgy company said.

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The first patent, titled "System and Method for Controlling Load Shifting by Third Party" relates to a system and method for enabling third-party entities to control load shifting in a Battery Energy Storage System (BESS). The technology allows third-party entities, such as utilities or aggregators, to optimize the use of BESS assets to provide grid services. The second patent, titled "System and Method for Effective Energy Channelization from a Renewable Energy Source" relates to a system and method for effectively channelling energy from a renewable energy source, such as solar or wind, into a BESS. The technology optimizes the use of renewable energy by ensuring that it is stored in the BESS when it is most valuable.

Both of these cutting-edge technologies possess applicability across a broad spectrum of fields, including solar and electric vehicle charging systems. The technologies are covered under two pending applications.

This multibagger stock is available for trade on NSE only and its market cap is ₹1,619 crore. Its current trade volume is around 2.75 lakh and near three hours of trade is still left during Wednesday deals. Its 52-week high is ₹100 per share and its 52-week low is ₹12.55 apiece.

Stock market today

Dalal Street is trading choppy today as major benchmark indices are trading lower after opening higher during morning deals. Nifty 50 today opened higher and went on to hit intraday high of 19,347 levels but it soon witnessed selling pressure and drifted in red zone hitting intraday low of 19,206 mark. Similarly, Sensex today opened higher but profit booking dragged the 30-stock index in red zone. Bank Nifty also tradiing choppy and it is also is also oscillating in green to red territory during Wednesday deals.

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