Oriental Foundry Pvt Ltd receives LoA for order worth Rs. 60 crores

Oriental Rail Infrastructure Ltd's material wholly owned unlisted subsidiary, M/s. Oriental Foundry Private Limited (OFPL), has received a Letter of Acceptance (LoA) from Ministry of Railways, Government of India for the manufacture and supply of Constant Side Bearers (CCSB) for BG Bogie Wagons against a tender issued by the Railways for an order value of approximately Rs. 60 crores. In accordance with the terms of the LoA, the subsidiary has duly submitted the required bank guarantee, fulfilling a key condition precedent. The formal order is expected to be issued by the authority in due course.

Shares of Oriental Rail Infrastructure Ltd was last trading in BSE at Rs. 174.80 as compared to the previous close of Rs. 175.80. The total number of shares traded during the day was 111140 in over 1311 trades.

The stock hit an intraday high of Rs. 182.65 and intraday low of 170.75. The net turnover during the day was Rs. 19676016.00.

Source : Equity Bulls

Keywords

OrientalRailInfrastructure INE457G01029 OrientalFoundry LoA OrderWin