Hirect Secures Maiden Order for Propulsion Systems for 4 MEMU Trainsets
Hirect Limited, previously known as Hind Rectifiers Ltd, has secured its inaugural contract for Mainline Electric Multiple Unit (MEMU) trainsets. The order was awarded by Modern Coach Factory (MCF) on behalf of Indian Railways.The contract involves the supply of complete Propulsion Systems for four MEMU trainsets. This domestic order was secured within a 24-month timeframe and valued at approximately Rs. 60 crores.
Hirect Limited confirmed that there is no interest held by the promoter or promoter group in the entity awarding the contract, nor will the transaction fall under related party transactions.
Key details of the contract are summarized below:
| Contract Detail | Information |
|---|---|
| Client | MCF / Indian Railways |
| Nature of Order | Supply of complete Propulsion Systems for 4 MEMU trainsets |
| Order Value (Approx) | Rs. 60 crores |
| Time Period to Execute | Within 24 months |
| Type of Entity Awarding Order | Domestic |
HIRECT Stock Price Movement
On Friday, Hind Rectifiers Limited shares edged higher in the market, closing at ₹1301.90 after gaining 0.92%. The stock traded a total of 64,247 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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