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Shares of Concord Control Systems rose over 4 per cent on Tuesday after the company's unit secured a ₹19.45 crore worth first Kavach 4.0 order from Indian Railways.
The industrial products maker's stock rose as much as 4.31 per cent during the day to a record high of ₹2,722.5 per share, the biggest intraday rise since September 10 this year. Concord Control's stock pared gains to trade 3.8 per cent higher at ₹2,710 apiece, compared to a 0.48 per cent advance in BSE Sensex as of 12:25 PM.
Shares of the company rose for the second straight session and currently trade at 1.8 times the average 30-day trading volume, according to Bloomberg. The counter has risen 62 per cent this year, compared to a 6.5 per cent advance in the benchmark Nifty 50. Concord Control has a total market capitalisation of ₹1,704.28 crore.
Concord Control bags first Kavach 4.0 order
The company has secured a ₹19.45 crore order for Kavach 4.0 through its associate company, Progota India Private Limited, according to an exchange filing. The deal marks the start of large-scale implementation opportunities in advanced railway safety, it added.
With this order, Concord Control becomes one of the few companies to have a fully developed Kavach system for supply to Indian Railways. The next-generation Kavach has cleared Indian Railways' stringent approval process, including product approval and initial SiL4 third-party certification, with about 70 per cent of the certification completed, the company said.
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The product being fully developed in-house provides a substantial first-mover advantage in safety electronics for railways, the company said. "By comparison, new entrants typically require approximately 3 to 5 years to reach this stage from scratch, underscoring the company’s leadership in technology, compliance, and time-to-market."
"This field order is not just a validation of our engineering capabilities but also a stepping stone for scaling our Kavach deployment across the Indian Railways network," Nitin Jain, Joint Managing Director, Concord Control Systems, said. "We are confident that our fully in-house developed system will set new benchmarks for safety, reliability, and selfreliance in railway technology."
Concord Control Systems (CCSL) is a manufacturer of embedded electronics systems and critical electronic solutions supporting India's next-generation rail infrastructure. CCSL is an RDSO-approved OEM and technology leader delivering advanced electrical and electronic systems for Indian Railways.
Earlier this month, the company said that it developed India's first fully indigenous zero-emission propulsion system. The propulsion system is powered by Lithium Iron Phosphate (LFP) batteries and features a DC chopper-based drive.
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