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Hot Pursuit News

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(12 Jul 2024, 11:41)

Oriental Rail hits record high as arm bags order worth Rs 432 cr

Oriental Rail Infra hit an upper circuit of 5% to Rs 397.45 after the company’s wholly-owned subsidiary, Oriental Foundry bagged an order worth Rs 432.15 crore from the Indian Railways.

The project entails manufacturing and supplying of 1,200 BVCM-C wagons and it is expected to be completed by 31 March 2026

The company said that 90% of total cost to be received against inspection certificate issued by the RDSO as specified in the contract and proof of dispatch/delivery of the material and balance 10% after receipt, inspection and acceptance of the goods.

Oriental Rail Infrastructure is engaged in the manufacturing, buying and selling of all type Recron, Seat & Berth, Compreg Boards and also engaged in trading of timber woods and all its products. The company caters to both domestic and international markets.

The company reported a consolidated net profit of Rs 4.37 crore as against a net loss of Rs 8.01 crore in Q4 FY24 over Q4 FY23. Revenue from operation...

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