This smallcap stock up 7% as arm wins ₹60-cr order from Indian Railways

Oriental Rail Infrastructure shares jumped 7.4 per cent on Friday, logging an intra-day high at ₹170 per share on BSE, after Oriental Foundry, a subsidiary of the company, secured an order

Oriental Rail Infrastructure shares jumped 7.4 per cent on Friday, logging an intra-day high at ₹170 per share on BSE. At 12:11 PM, Oriental Rail Infrastructure’s share price was trading 5.53 per cent higher at ₹166.95 per share. In comparison, the BSE Sensex was up 0.16 per cent at 80,210.82. 

 

The market capitalisation of the company stood at ₹1,109.46 crore. The 52-week high of the stock was at ₹369.45 per share, and the 52-week low was at ₹137.2.

 

In one year, Oriental Rail Infrastructure’s shares have lost 51 per cent, as compared to Sensex’s decline of 2.5 per cent.  READ STOCK MARKET UPDATES TODAY LIVE

 

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Oriental Rail Infrastructure order win  

The northward movement in the stock came after Oriental Foundry, a subsidiary of the company, secured an order worth over ₹60 crore. Under the contract, the company will manufacture and supply 1,05,000 Constant Side Bearers (CCSB) for BG Bogie Wagons. 

 

“We wish to inform you that Oriental Foundry Private Limited, a Wholly-Owned Subsidiary of the Company, has secured order worth ₹60,87,45,948.70/- (Rupees Sixty Crores Eighty-Seven Lakhs Forty-Five Thousand Nine Hundred Forty-Eight and Paisa Seventy Only) for the Manufacture and Supply of 1,05,000 of Constant Side Bearers (CCSB) for BG Bogie Wagons against Railway Board's E- Tender No. 2025RSI1742TC invited from Indian Railways,” the filing read. 

 

The contract has to be executed within 18 months from the date of issue of the purchase order. 

 

According to the filing, 90 per cent payment for the stores or each consignment thereof will be made against an Inspection Certificate and proof of dispatch. Balance 10 per cent after receipt and acceptance of the stores.   ALSO READ | 4 smallcap stocks zoom up to 56% in August; hit new highs. Do you own? 

Oriental Rail Infrastructure Limited is engaged in the manufacturing and supply of several items for the Indian Railways and other industries. All the company’s products to Indian Railways are approved by the Research Designs Standards Organisation (RDSO), which is the sole vendor approving body for the consumer organisation. The products are also Rites (erstwhile Rail Technical Economic Service) certified which is the sole inspecting authority for ensuring quality and clearance of all products for supplying to Indian Railways.