Lakshya Powertech jumps 8% on winning ₹48-crore order from Oil India

National Stock Exchange (NSE) listed Lakshya Powertech shares jumped 7.7 per cent on Friday and logged an intra-day high at ₹129.9 per share on NSE. At 1:16 PM, Lakshya Powertech’s share price was trading 3.16 per cent higher at ₹134 on NSE. Meanwhile, Oil India shares were up 0.3 per cent at ₹395.7 per share. In comparison, the Nifty was up 0.47 per cent at 25,122.20.

 

The market capitalisation of the company stood at ₹135.12 crore. The 52-week high of the stock was at ₹376.95 per share, and the 52-week low was at ₹125.

Why were Lakshya Powertech shares in demand?

The buying on the counter came after the company received a work order worth ₹48.63 crore. The order pertains to hire CNG services along with transportation to consumption centers/decanting to Oil’s pipeline on a BOO (Build,Own and Operate) model. The company is expected to complete the project in seven years. 

 

 

“We wish to inform you that the company has secured a Work Order from Oil India Limited,” the filing read. 

 

That apart, in August, the company secured another work order from Powerica to supply and install HSD system, safety equipment, and loading and unloading of DG sets. The order was worth ₹4.69 crore and was expected to be completed within three months.

 

Lakshya Powertech is an energy solutions provider. Its specialises in delivering services across the energy spectrum, offering end-to-end, customised solutions that align with the evolving needs of clients in a dynamic energy landscape. The company offers tailored EPC services catering to the diverse needs of the oil and gas, power generation, and renewable energy sectors, both domestically and globally. Its trajectory is marked by a relentless pursuit of excellence, enabling us to carve a distinctive niche in fabricating and manufacturing critical engineering and process equipment.  From precision-engineered pressure vessels to cutting-edge heat exchangers, robust storage tanks, air receiver tanks, meticulously crafted skids, structures, and intricate spool piping, our portfolio stands as a testament to our capability to surpass varied industry standards.