Shares of Oriental Rail Infrastructure surged 5% and hit the upper circuit on Friday's session after the company won a ₹432 crore order from the Indian Railways.
On July 10, the company won a ₹19.33 crore order from Rail Coach Factory to manufacture and supply seats and berths for various Linke-Hofmann-Busch coaches.
Price Action: Shares of Oriental surged 5% and hit the upper circuit at ₹397.45.
Oriental has had a stellar run in the market over the last year, with its stock soaring more than 500%.
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Shares of Oriental Rail Infrastructure surged 5% and hit the upper circuit on Friday's session after the company won a ₹432 crore order from the Indian Railways.
What Happened: Oriental announced on Thursday after market close that its subsidiary, Oriental Foundry, won a ₹432.15 crore order from the Indian Railways to manufacture and supply 1,200 broad gauge bogie brake van wagons.
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The project is set to be completed by March 2026, the company said. 90% of the cost will be received after the Research Designs and Standards Organisation (RDSO) issues an inspection certificate along with proof of dispatch/delivery of the material, it added. The company will receive the rest of the cost after the order has been delivered, inspected and accepted.
On July 10, the company won a ₹19.33 crore order from Rail Coach Factory to manufacture and supply seats and berths for various Linke-Hofmann-Busch coaches.
Price Action: Shares of Oriental surged 5% and hit the upper circuit at ₹397.45. This is the seventh consecutive session where the stock has rallied 5%.
Oriental has had a stellar run in the market over the last year, with its stock soaring more than 500%.
Read Next: Zomato Shares Hit All-Time High As Brokerage Raises Price Target
