Servotech Power Systems share: 5000% rally in five years! EV stock jumps 5% after this corporate update

Servotech Power Systems share price surged over 5% on Monday's session following the company's announcement regarding the inclusion of prominent entrepreneur and worldwide business strategist Errol Musk on its Global Advisory Board.

The company announced in an exchange filing that, Musk will play a key role in promoting Servotech's strategic vision for global expansion, leadership in sustainability, and innovation powered by AI.

His appointment is in line with Servotech's ambitious "Vision 2027" objective to revolutionize the renewable energy sector in India and significant international markets.

Errol Musk, acclaimed for his contributions in technology, infrastructure, and sustainable development, will offer strategic advisory support to the leadership team at Servotech. His responsibilities include overseeing impactful media relations, managing investor connections, and facilitating government engagement initiatives.

Musk will begin his advisory position right away, with his initial visit to India and strategic meetings planned for the next few months.

"We are absolutely thrilled and honored to welcome Errol Musk to the Servotech Renewable family. His vast experience, profound global insights, and unwavering passion for groundbreaking innovation will be invaluable as we accelerate our mission to forge a greener, smarter future for India and beyond.

This partnership marks a significant milestone in our journey, and we are confident that Mr. Musk's strategic guidance will be instrumental in realizing our ambitious 'Vision 2027' and establishing Servotech as a global leader in sustainable energy solutions," said Raman Bhatia, Managing Director of the firm.

Servotech Power Systems share price today

Servotech Power Systems share price opened at ₹124.50 apiece on the NSE, the stock touched an intraday high of ₹128.48 apiece, and an intraday low of ₹121.58 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, since last few weeks the stock prices are trading in a range forming a base around the weekly 89ema, while the volumes have picked up recently, the momentum would pick up only on a sustained breakout above ₹135 , beyond which upside can extend towards ₹145.

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