Multibagger NSE stock jumps after this EV trigger. Do you own?

livemint.com:

Stock market today: Shares of Servotech Power Systems Ltd has been in uptrend after ushering in new year 2023. This NSE listed stock has delivered over 360 per cent return to its positional shareholders in year-to-date (YTD) time and it looks that some more steam is still let in this small-cap stock.

The NSE stock opened higher today and went on to hit intraday high of ₹74.90 apiece levels, logging near 1.50 per cent rise within few minutes of stock market's opening bell today. Possible reason for buying interest among Dalal Street bulls coould be the new EV trigger as the small-cap multibagger stock has informed Indian bourses that it is going to set up 1,000 new EV charging stations in India.

For this purpose, the manufacturer of EV chargers has signed an MoU with EMCOR Power Solutions which is the Indian business start-up of EMCOR International, a renowned Kuwait-based general trading company to establish 1000 EV Charging Stations in India. Informing Indian exchanges about the development, Servotech Power Systems Ltd said, “Servotech Power Systems Ltd., a distinguished NSE-listed manufacturer of EV chargers in India, and EMCOR Power Solutions, a prominent name in providing remarkable and technologically EV charging CPO solutions and advanced battery have signed an MOU to Revolutionize EV Charging Infrastructure in India.