The stock rallied 10% to Rs 377 after the company received order from DLW to supply 10 traction alternators.
Dobbaspet (DBS), Bangalore Rural: TD Power Systems has rallied 10% to Rs 377 on the National Stock Exchange (NSE) after thecompany said that it has received order from Diesel Locomotive Works to supply 10 traction alternators.
Diesel Locomotive Works (DLW) is a production unit owned by Indian Railways and the largest diesel-electric locomotive manufacturer in India. These Traction alternators are mounted on EDM locomotives manufactured by DLW in India.
“The order is based on a provisional approval consequent to an RDSO capability audit of the Company. The Journey commenced in March 2013 culminating into this trial order,” TD Power Systems said in a press release.
After acceptance of the generators by DLW, the Company stands to be eligible for significant orders especially with the massive capex plan that the Indian Railways announced in the recent Union budget, it added.
The stock opened at Rs 369 and hit a high of Rs 382 on the NSE. A combined 147,445 shares changed hands on the counter till 0952 hours on the NSE and BSE.