New order boosts ALSTOM India

ALSTOM India rose 1.39% to Rs 397.65 at 13:56 IST on BSE after the company said it has secured a contract worth close to euro 30 million from Bharat Heavy Electricals.

The announcement was made on Friday, 18 April 2014. The stock market was closed on that day, on account of Good Friday.

Meanwhile, the S&P BSE Sensex was up 60.31 points or 0.27% at 22,689.15.

On BSE, so far 5,884 shares were traded in the counter as against average daily volume of 9,898 shares in the past one quarter.

The stock hit a high of Rs 403 and a low of Rs 396 so far during the day. The stock had hit a 52-week high of Rs 440 on 2 April 2014. The stock had hit a 52-week low of Rs 285 on 6 August 2013.

The stock had outperformed the market over the past one month till 17 April 2014, surging 13.24% compared with the Sensex's 3.76% rise. The scrip had also outperformed the market in past one quarter, jumping 12.54% as against Sensex's 7.43% rise.

The small-cap company has equity capital of Rs 67.23 crore. Face value per share is Rs 10.

ALSTOM India said it has been awarded a contract by Bharat Heavy Electricals (BHEL) worth close to euro 30 million to supply components and services for the 2x660 megawatts (MW) Banharpalli Super Thermal Power Project (STPP) located in Jharsaguda, Orissa.

Under the scope of the contract, Alstom will co-operate with BHEL in designing the boilers and supply identified pressure parts of the 660 MW supercritical boilers, along with windboxes. It will also assist BHEL with technical advisors during the erection and commissioning of the units. Key components will be manufactured in Alstom's manufacturing facilities in Concordia (USA), as well as in Durgapur (India). The units I & II are expected to be commissioned by 2018, ALSTOM India said in a statement.

Commenting on this contract, Patrick Ledermann, Vice President of Alstom Thermal Power & Renewable Power in India, said, "We are pleased to win this contract for which we will provide our leading supercritical power plant solutions. Alstom's supercritical boilers satisfy the most stringent environmental requirements and stand out for their robustness and high reliability. It also helps in achieving about 3-4% higher plant efficiency compared to conventional subcritical design".

ALSTOM India reported net loss of Rs 7.58 crore in Q3 December 2013, lower than net loss of Rs 14.59 crore in Q3 December 2012. Net sales rose 9.1% to Rs 531.49 crore in Q3 December 2013 over Q3 December 2012.

ALSTOM India provides engineering, manufacturing, project management and supply of products and solutions for infrastructure sector.

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