Pace Digitek shares jumped over 12% on Tuesday, hitting a day high of Rs 175.37, after its arm bagged a Rs 488.46 crore battery storage order.

Here is what sparked the rally. Lineage Power, a material subsidiary of Pace Digitek, received a letter of award from NTPC GE Power Services for a battery energy storage system project at the Barh Super Thermal Power Station in Bihar.

The order covers both stages of the plant. Under the contract, Lineage Power will supply, test and oversee the installation of 5.015 MWh worth of BESS containers, along with the battery management and energy management systems that go with them.

The deal also comes with a 12 year maintenance arrangement, split between five years of annual servicing and a further seven years of extended warranty cover on the battery units.

The company expects to finish the project by December 31, 2026. This is not Lineage Power’s first big win this season.

Just last month, the subsidiary picked up a separate order worth around Rs 93 crore from Kalpa Power for another battery storage system.

Pace Digitek has also been ramping up its manufacturing base, doubling its BESS capacity to 5 GWh in August, with plans to push that up to 10 GWh by the third quarter of next fiscal year.

On the earnings front, the company’s June quarter revenue rose more than 51% year on year to Rs 555.36 crore, while net profit climbed over 13% to Rs 61.32 crore.

As of 12:21 pm on Tuesday, Pace Digitek was trading at Rs 170.60 on the NSE, up 10.16% for the day.

The stock is still down close to 9% for the year, even after today’s sharp rally.

Ready to invest like a pro? Tradz by EquityPandit app equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz by EquityPandit app and gain access to daily stock lists and insightful market analysis and much more!