RMC Switchgear receives orders worth Rs 113 crore from Maharashtra government

On September 15, the stock ended at Rs 763.45 on BSE, down about 5 percent.

RMC Switchgear on September 16 said a joint venture of the company has received orders worth Rs 113 crore from the Maharashtra government. The announcement is likely to be positive from the stock market’s point of view.

“We are pleased to announce the receipt of Letter of Award (LOA) of Rs 112.83 crore (excluding GST) in Joint Venture with M/s. Continental Petroleums Limited, by Maharashtra Government under Revamped Distribution Sector Scheme (RDSS),” the company said in a regulatory filing. .

The joint venture has received the order for ‘Supply of Plant and Installation including Civil Contract’ covering inter-alia supply of plant, installation and Civil on FOR [Final place of destination] basis inter-alia including’ design, engineering, manufacture, testing, transportation, insurance etc. and other services.

The project is required for the complete execution at Satara Circle/s under Baramati Zone of MSEDCL, Maharashtra State, under RDSS, the company said.

The order is to be executed within 24 months.

On September 15, the stock ended at Rs 763.45 on BSE, down about 5 percent.

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