Timbor Home has surged 12% to Rs 57.40 after the company announced that it has won an order of Rs 4 crore for solid wood furniture from Coastal Gujarat Power Ltd. (A Tata Power Co.) for their Mundra Township Project in Gujarat.
"The company has in the past done similar furniture projects for housing colonies for large power projects in Haryana and Uttar Pradesh,” Timbor Home said in a statement.
The company has also tied up with various real estate companies in Gujarat, Rajasthan, Delhi, Mumbai, Pune, Hyderabad, Indore, Chennai and Bhubaneswar for furnishing their apartments with ready to use kitchens and furniture, it added.
The stock has more than doubled in the past one month from Rs 27.40 on the Bombay Stock Exchange, compared to 2.4% rise in benchmark Sensex. Around 212,000 shares have changed hands on the counter so far on the BSE.
