TD Power Systems shares rise nearly 6% after firm bags orders worth Rs 142 crore

Shares of TD Power Systems surged nearly 6% on October 15 after firm bagged two major international gas engine generator orders worth Rs 142 crore.

"The company is pleased to announce two large orders from two major international gas engine Original Equipment Manufacturers, with a combined value of Rs 142 crore for the supply of gas engine generators. These orders reflect a high increase in demand from the gas engine segment of the company’s business with end use for application in grid stabilisation units, base load power and data centre," said the Bengaluru-based company in a stock exchange filing.

At 10:35 am on October 15, TD Power Systems' shares were trading 5.5% higher at Rs 407 apiece.

"All the generators are for the export markets and will be partly delivered during this financial year and partly delivered next year. The company expects further orders in this segment over the next few quarters. These orders reflect the company’s strengthening position in the international markets and higher acceptance of its products for critical applications," added the company.