Hirect Secures Rs 60 Crore Development Order from Indian Railways for Vande Metro Trainsets
Hirect Limited, formerly Hind Rectifiers Limited, has secured its first development order for Vande Metro trainsets from Indian Railways. This contract marks a significant milestone for the company in the power conversion systems sector.The supply order details an agreement with Indian Railways and is valued at approximately Rs 60 crores. The project execution timeline set by the railway extends within the next 21 months.
The development order falls under the category of a domestic supply contract. Furthermore, the terms indicate that neither the promoter group nor any related parties have financial interest in the entity awarding the order.
Key details regarding the order are summarized below:
| Parameter | Details |
|---|---|
| Entity Awarding Order | Indian Railways |
| Nature of Order | Supply Order |
| Estimated Order Size | Approx Rs 60 crores |
| Execution Time Period | Within 21 months |
| Domestic/International Status | Domestic |
| Related Party Transaction | No |
HIRECT Stock Price Movement
On Friday, shares of Hind Rectifiers Limited gained by 0.92%, closing at ₹1301.90. The stock saw a total traded volume of 64,247 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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