Moneycontrol
Last Updated : Jan 08, 2019 02:39 PM IST | Source: Moneycontrol.com

Hind Rectifiers gains 4% on orders win worth Rs 88 crore

This includes substantial orders from diesel locomotive works worth RS 61 crore.

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Shares of Hind Rectifiers gained 4 percent intraday Tuesday after company has bagged orders of Rs 88.05 crore in December 2018.

This includes substantial orders from diesel locomotive works worth RS 61 crore.

With these order wins, the company has a strong all time high pending order book of Rs 292.92 crore.

Suramya Nevatia, CEO, Hind Rectifiers said, "The orders booked are for a new product which was launched last year. Through backward integration, the company is able to substantially reduce import cost for the product, thereby helping the product margin to be upwards of

10 percent."

At 14:34 hrs Hind Rectifiers was quoting at Rs 111.60, up Rs 3.25, or 3.00 percent.
First Published on Jan 8, 2019 02:39 pm
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