Stone India Ltd has announced that the Company has started the new Financial Year with a bang and has received an order for refurbishment and up gradation of 1115 wagons from Ministry of Defence, Govt of India. The order is valued at Rs 140 million and to be executed over next eight months. The Company is only private company selected to execute this order. So long this job was being undertaken by Indian Railways. This incidentally happens to be the single largest order since its inception.
This marks company’s big ticket entry into Projects & Services area. The Company invested over Rs 12 million last year to establish its mobile rigging facilities equipped with latest machineries for such on site project work. The Company is expects to grow substantially in this area in the near future. This is in line with company’s long term objective of achieving 20% of enhanced turnover from Projects & Services.
The Company ended the previous year with Turnover & Order Book exceeding Rs 820 & Rs 925 million, showing a growth of 34% & 30% over previous year.
The stock was trading at Rs.152, up by Rs.6.90 or 4.76% on volume of 5780 shares compared to 2 week average quantity of 11014.
|
