Cosmic CRF shares hit 5% upper circuit on Rs 127-crore order win; details

Cosmic CRF share hits 5% upper circuit: Shares of railways component manufacturer Cosmic CRF jumped up to 5 per cent to hit the upper band at Rs 1,809.60 per share on Friday, September 20, 2024. 

The surge in Cosmic CRF share price came after the company announced that its subsidiary, N S Engineering Projects, has secured an order worth Rs 127.44 crore from the infrastructure industry.

In an exchange filing, Cosmic CRF said, “We would like to inform you that N S Engineering Projects Private Limited, the subsidiary company of Cosmic CRF Limited has bagged an order worth gross value of Rs 12,744 lakhs (inclusive of GST) for supply of cold formed steel sheet piles. 

Under the terms of the order, the company will be responsible for the supply of cold formed steel sheet piles. The amount of sheet piles required is 18,000 MT steel sheet piles (Z type and U type).

Additionally, the order needs to be completed in 12 months or 1 year. 

Last week, The company secured an order for 200 sets of CRF Sections-BOXNHL, Design-D (UMBS) Wagons worth Rs 102.1 crore. The order was expected to be completed within 8 months. 

Cosmic CRF engages in manufacturing a range of cold-rolled stainless sections, tailored for various applications in the railway sector, including fabricated components for coaches and wagons. 

Additionally, the company produces cold-rolled formed items for infrastructure projects and roadways, catering to both EPC contractors and national highway requirements.

The company has established a diverse clientele, including prominent firms such as Titagarh Wagons Limited, Hindusthan Engineering & Industries Limited, and Jindal Rail Infrastructure Limited. 

The market capitalisation of Cosmic CRF is Rs 1,442.85 crore. The 52-week high of Cosmic CRF share is Rs 2,210 while its 52-week low is Rs 233.90 per share

At 10:09 AM, shares of Cosmic CRF were trading 2.12 per cent higher at Rs 1,760 per share. In comparison, BSE Sensex was trading 0.64 per cent higher at 83,720.57 levels.