Fedders Lloyd up 11% on order from Odisha Power Trans

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Moneycontrol Bureau

Investors lapped up shares of Fedders Lloyd Corporation on Monday after the company bagged order from Odisha Power Transmission Corporation. The stock gained as much as 11 percent intraday.

"Fedders has been awarded contracts aggregating to Rs 106.99 crore by Odisha Power Transmission Corporation, Bhubaneshwar in JV with Jagbankdhu Enterprise Private Limited," said the air conditioner manufacturer in its filing to the exchange.

The order is for design, engineering, supply, erection, testing and commissioning of construction of 2X20 MVA, 132/33 KV sub stations and associated transmission lines on turnkey basis, in various districts of Odisha.

At 11:10 hours IST, the stock was quoting at Rs 75.30, up Rs 4.45, or 6.28 percent amid high volumes on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar