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Marine Electricals shares gain 4% after Rs 33.8-crore order win

The share touched a 52-week high of Rs 90.70 and a 52-week low of Rs 16.00 on 07 June, 2021 and 20 August, 2020, respectively.

July 09, 2021 / 10:07 AM IST
 
 
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Marine Electricals India share price jumped over 4 percent intraday on July 9 after the company said it has received an order worth over Rs 33 crore from Bridge Datacentres (Mumbai).

" .... has received an order from Bridge Datacentres (Mumbai) LLP for supply of L V Busduct & L V Switchboard (L2, L3, L4) and MY Panel package for Project Byte, amounting to Rs 33.84 crore (excluding GST)," the company said in an exchange filing.

The delivery of the said goods shall be made over a period of 9 months.

None of the promoter/promoter groups has any interest in the aforesaid work and the said order/contract does not fall within the ambit of related party transactions, the company said in the filing.

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At 09:32 hrs Marine Electricals India was quoting at Rs 60.45, up Rs 2.45, or 4.22 percent on the NSE.

The share touched a 52-week high of Rs 90.70 and a 52-week low of Rs 16.00 on June 7, 2021, and August 20, 2020, respectively.

Currently, it is trading 33.35 percent below its 52-week high and 277.81 percent above its 52-week low.
Moneycontrol News
first published: Jul 9, 2021 10:00 am

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