Alstom T&D India rose 5.46% to Rs 334.90 at 15:15 IST on BSE after the company said it won a contract from Power Grid Corporation of India.
The company made the announcement during trading hours today, 25 August 2014.
Meanwhile, the BSE Sensex was up 58.53 points, or 0.22%, to 26,478.08.
On BSE, so far 32,000 shares were traded in the counter, compared with an average volume of 18,919 shares in the past one quarter.
The stock hit a high of Rs 347.90 and a low of Rs 314.80 so far during the day. The stock hit a 52-week high of Rs 365 on 23 July 2014. The stock hit a 52-week low of Rs 125.25 on 23 August 2013.
The stock had underperformed the market over the past one month till 22 August 2014, falling 7.81% compared with 1.51% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.25% as against Sensex's 8.39% rise.
The mid-cap company has an equity capital of Rs 51.21 crore. Face value per share is Rs 2.
Alstom has been awarded 400 million euros (Rs 3250 crore) in contracts by Power Grid Corporation of India (PGCIL) to build Phase II of the Champa-Kurukshetra Ultra-High Voltage Direct Current (UHVDC) link in Northern India. This new 800 kilovolt (kV), 3000 megawatts (MW) transmission link will run in parallel with the first UHVDC transmission link awarded to Alstom in 2012, increasing the total transmission capacity of the advanced UHVDC system to 6000 MW.
Alstom T&D India's share in the contracts would be Rs 1430 crore.
Phase II of this UHVDC system will complete the 1,365 kilometre (km) long energy highway between Champa in central India and Kurukshetra in northern India. It will transfer clean, bulk power efficiently from the Chhattisgarh region - a hub of Independent Power Producers of thermal power - to the load centre in the northern region of the country.
Alstom will build two -800 kV, 3000 MW converter terminal stations, and design, manufacture and deliver on a turnkey basis 800 kV UHVDC thyristor valves, 32 converter transformers, 400 kV gas-insulated switchgear, substation equipment, and communication and supervisory control and data acquisition systems (SCADA). The project also covers the commissioning and successful operation of both the terminal stations and their integration with Champa - Kurukshetra Line 1 bipole (from Phase I), currently under construction. All equipment will be manufactured by Alstom's facilities in India, United Kingdom, France and Italy.
Rathin Basu, Managing Director of Alstom T&D India said, "Alstom has been the frontrunner in deploying the latest HVDC technology and solutions in India. We have been actively associated with Power Grid in establishing back-to-back HVDC systems in the past to improve power flow and grid connectivity between the five electrical regions of India. The Champa-Phase II HVDC project follows the earlier success of Champa-Phase I, and confirms Alstom's market and technological leadership in the HVDC domain."
HVDC is increasingly the preferred choice for utilities to ensure efficient, reliable bulk power transmission. Alstom Grid is a major supplier of turnkey HVDC solutions worldwide. In India, Alstom has supplied HVDC systems for Vizag (State of Andhra Pradesh), Chandrapur (State of Maharashtra), Sasaram (State of Bihar), and is currently constructing the Phase I 800 kV Champa - Kurukshetra link.
Net profit of Alstom T&D India rose 89.10% to Rs 28.44 crore on 19.94% rise in net sales to Rs 671.14 crore in Q1 June 2014 over Q1 June 2013.
Alstom T&D India is a market leader In the Indian power transmission sector.
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