Ducon Infratechnologies stock jumps 20% on new orders for USA subsidiary

Shares of Ducon Infratechnologies were locked at 20 percent upper circuit at Rs 22.80 on Wednesday following new orders for its US subsidiary.

There were pending buy orders of 61,853 shares, with no sellers available on the BSE at 11:47 hours IST.

The company said its US subsidiary, Ducon Combustion Equipment Inc has received new orders of Rs 52 crore for two 50 MW packaged cogeneration plants from a major South Korean EPC company during the month of June 2018.

These orders will be delivered in the next two months, it added.

The US Subsidiary of the company was set up in the last December to supply packaged boilers, cogeneration plants and heat recovery systems to clients worldwide.

In the previous trading session, the share closed down 3.31 percent or Rs 0.65 at Rs 19.00.

The share touched its 52-week high Rs 58.00 and 52-week low Rs 18.55 on 15 January, 2018 and 03 July, 2018, respectively.

Currently, it is trading 60.69 percent below its 52-week high and 22.91 percent above its 52-week low.

At 11:38 hrs the stock was quoting at Rs 22.80, up Rs 3.80, or 20.00 percent.