CG Power and Industrial Solutions rose over 4.5% to Rs.58.10 and continues to remain firmly in the green. Its 52-week high is at Rs.99.
The company announced yesterday night that it has bagged a large order from the Indian Railways valued at Rs.319 crore.
This is for supply of Under Slung Electrics for Diesel Electric Tower Car (DETC). Large quantities of DETCs are required for massive track electrification drive taken up by Indian Railways across the country. More than 1000 DETCs shall be required for electrification and thereafter for inspection and maintenance in the coming years.
This order has come on the back of certain successful executions of earlier Railway orders by CG where it worked with multiple partners to erect and commission various projects at Railway production units and Railway sheds.
Scope of supply of each Diesel-electric propulsion system consist of integrated under slung power pack comprising of diesel engine and alternator, power rectifiers, traction motors with both side suspension arrangement with accessories, controlling devices with digital control signals. The scope of supply also includes installation and testing of the complete propulsion system at ICF Chennai and commissioning of systems on DETCs all across India.