Servotech Renewable Power System Ltd has inked a strategic Memorandum of Understanding (MoU) with Noida Power Company Limited (NPCL) to scale up Electric Vehicle (EV) charging infrastructure in Greater Noida. Through this collaboration, Servotech’s EV division – operating under the Incharz brand – will deliver charging solutions at high-demand sites, including residential complexes, commercial centres, hospitals, and office buildings, leveraging NPCL’s support for site selection, DISCOM coordination, and streamlined deployment.
This alliance will see chargers installed in a phased manner. The initial phase has already rolled out AC and DC charging units at residential societies like Stellar Jeevan and Ace Divino. Charging capacities range from 7.4 kW AC to 40 kW DC, accommodating both two-wheeler and four-wheeler vehicles with simultaneous charging capability. However, Servotech’s stock priced a mild correction. Shares of SERVOTECH closed at ₹147.50 on the NSE, marginally down 0.04% from the prior ₹147.56. The stock hit an intraday high of ₹150. Despite the dip, it remains significantly elevated from its 52-week low of ₹86.10, though below its 52-week high of ₹205.40. Presently, the company carries a market capitalisation of approximately ₹3,316 crore.
Beyond this MoU, Servotech previously struck another notable agreement with French firm Watt & Well to co-develop EV charger power modules within India. The collaboration will initially focus on a 30 kW module, and may evolve into bidirectional modules supporting vehicle-to-grid solutions, fully aligning with the Make in India initiative. The agreement designates Servotech as the exclusive Indian marketer of these module. Well-positioned as a frontrunner in EV and clean-energy infrastructure, Servotech also leads India’s solar-backed charging efforts. Earlier ventures include Delhi’s first solar-powered EV charging carport in Hauz Khas Village, executed with National Solar Energy Federation of India and local utilities.
The market reaction, with shares oscillating modestly, reflects both investor caution and recognition of long-term potential. While a small near-term decline may indicate profit-booking or market consolidation, institutional interest remains, as evidenced by Foreign Institutional Investors increasing stakes over time. Servotech’s MoU with NPCL marks a key milestone in accelerating EV charging accessibility in Greater Noida. Despite a modest stock dip, the company’s broader strategy—anchored by international partnerships, local manufacturing, and solar integration—positions it firmly at the forefront of India’s sustainable transport transition. Continuous execution across planned installations and technological roll‑outs will be critical to translating market promise into everyday impact.
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