Transrail Lighting shares surge 5% after new orders worth Rs 2,752 crore

Transrail Lighting

The shares of Transrail Lighting, an Engineering, Procurement and Construction (EPC) player, surged nearly 5 percent on February 28 after the company announced securing of new orders worth Rs 2,752 crore, primarily from the Transmission & Distribution (T&D) segment.

The company announced details of the order wins through an exchange filing in after-market hours of February 27. Transrail Lighting CEO & MD Randeep Narang said, "…order wins of Rs 2,752 crore reaffirm our position as a trusted partner in the T&D industry. Our order book continues to grow, driven by competitiveness including our backward integration."

Narang said with the fresh order wins, the company's year-to-date order inflows have crossed Rs 7,400 crore, a growth of nearly 90 percent compared to last year. This is significant as the stock has a market capitalization of around Rs 6,793 crore, as per the Bombay Stock Exchange (BSE).

"With a robust order book, manufacturing capacities, proven execution capabilities and promising tender pipeline we have good growth prospects in the coming quarters," Transrail said.

The shares of the Transail Lighting are near the 52-week low of Rs 465.20 and significantly lower than the 52-week high of Rs 719.15. In the last one month, the shares of the company have tumbled nearly 9 percent.

Transrail Lighting – an EPC company - provides turnkey solutions in the transmission & distribution segment, along with civil, railways, and poles & lighting, with a footprint in 58 countries. The company has completed more than 200 projects in power transmission and distribution vertical.