Triveni Turbine hits new high
Triveni Turbine is very much on the radar today’ from its close of Rs.299.55, it opened today at Rs.300.10 and rose to hit a 52-week high at Rs.310.50; it has come off the high and is now trading at Rs.303 levels.
The stock price rose after an interview with Bloomberg, wherein the company said that it plans to increase manufacturing capacity to 350 turbines annually, from 225 turbines at present, as it sees demand for three product lines growing in the coming quarters.
The company had ended the Q3 on a strong note – reporting its highest ever turnover and profitability, delivering over 40% (YoY) increase. Order booking reached a new high of Rs.4.20 billion during the quarter, leading to a total order booking of Rs.11.39 billion during 9M FY 23, up 26.5%.
With solid performance across its geographies and business segments, the company had an impressive closing order book of Rs.12.32 billion, up 33%, placing it in an extremely favourable position for the year to come.
24th Feb 2023 at 07:49 am