Quadrant Future Tek rose 1.23% to Rs 523.90 after the company announced that it has received a letter of acceptance (LOA) worth Rs 155.93 crore from RailTel Corporation of India for the supply of Kavach systems at East Central Railway.
The order includes the supply, installation, and commissioning of the Kavach (indigenous train collision avoidance system) and associated components across 502.2 RKM of railway tracks, covering 71 railway stations of East Central Railway.The total value of the project is Rs 155.93 crore and it is expected to be completed within 21 months.
In addition, the company clarified that the contract does not involve any related party transactions and confirmed that neither the promoter, promoter group, nor any group companies have any interest in the awarding entity.
The official announcement was made on Wednesday, 26 March 2025, after market hours.
Quadrant Future Tek (QFTL) is engaged in the manufacture of specialty cables used in railway rolling stock and the naval (defence) industry. It specializes in manufacturing a wide range of electron beam irradiated cables for industrial usage and applications where fire and safety, light weight, and long-term performance are of utmost importance. The company has also recently expanded its operations to build an indigenously developed automatic train protection system that uses radio frequency identification to detect and stop a possible train collision under the Kavach project developed by the Research Designs & Standards Organisation (RDSO).
Quadrant Future Tek made a debut on the stock exchanges on 14 January 2025, with its shares listing at Rs 374, a 28.97% premium to the issue price of Rs 290. The company's initial public offering (IPO), which closed on 9th January 2025, was subscribed 186.66 times. The IPO was priced within a band of Rs 275 and 290 per share.
Shares of RailTel Corporation rose 0.15% to Rs 518.35 on the BSE.
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