Hind Rectifiers soars on bagging orders worth Rs.26.56 crore from Railways

Proper_hirect_logoHind Rectifiers has received order from Chittaranjan Locomotives Ltd. (CLW) for Rs 19.21 crore and order from Diesel Modernisation Works (DMW) for Rs 7.35 crore from Indian Railways.

M/s Hind Rectifiers is currently trading at Rs.36.00, up by 0.75 points or 2.13% from its previous closing of Rs.35.25 on the BSE.

The scrip opened at Rs.37.85 and has touched a high and low of Rs.37.85 and Rs.35.90 respectively. So far 3792 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs.70.00 on 22-Feb-2013 and a 52 week low of Rs. 35.00 on 18-Sep-2013.

Last one week high and low of the scrip stood at Rs.38.00 and Rs.35.00 respectively. The current market cap of the company is Rs. 54.51 crore.

The promoters holding in the company stood at 44.53% while Institutions and Non-Institutions held 0.08% and 55.39% respectively.

Hind Rectifiers has received two orders from Indian Railways worth Rs.26.56 crore. The company has received first order from Chittaranjan Locomotives (CLW) for Rs.19.21 crore for supply of 100 Nos. 180 kvA Static Converters required for Electric Locomotives. The company has received second order from Diesel Modernisation works (DMW) for Rs.7.35 crores for supply of 169 Nos. of Alternating Mounted Rectifier required for Diesel Locomotives.

These orders are milestone orders for the Company as each of them mark the placing of complete order by Indian Railways on a single vendor.

Hind Rectifiers (Hirect) was founded in 1958, in collaboration with Westinghouse, Brake & Signal, U.K. Hind Rectifiers, has long standing tradition and experience in developing, designing, manufacturing and marketing Power Semiconductors, Power Electronic Equipments and Railway Transportation Equipments.