Simplex Castings at a new high
By
Research Desk
about 9 years ago
Simplex Castings has literally hit the roof! The stock is up 20%, breaching the upper circuit at Rs.61.95; this is a new 52-week high. Volumes are huge at 64,000 shares compared to two-week average of over 1700 shares traded.
The stock has hit a high after it announced that it has received an order from Diesel Locomotive Works (DLW), owned by Indian Railways worth of Rs. 54 crore. This will be executed by the company in next three quarters.
The company has stated that this order will be add-on to performance of the Company in current financial year. The abovementioned order is approximately 31% of total turnover of the company in previous financial year FY15.