Transrail Lighting Ltd stock saw a significant rise today, increasing by 4.2% intraday to Rs 523.95 per share. The surge was largely attributed to the company's announcement of securing new orders worth Rs 1,674 crore. These orders involve major transmission and distribution projects overseas, focusing on engineering, procurement, and construction of transmission lines and substations.
However, Transrail Lighting's stock has still declined by 9.36% since the beginning of the year.
The recent boost in share price comes after a series of successful bids, including previous fresh orders worth ?2,752 crore secured primarily in the transmission and distribution (T&D) segment last month. The company's strategy to expand its global footprint while strengthening domestic operations has been highlighted by Randeep Narang, Managing Director and CEO.
"With year-to-date order inflows close to ?9,200 crore, we continue to build a project portfolio that supports profit-led growth. This balanced mix of domestic and international project wins this year reflects our strategic focus on expanding globally while strengthening our presence in India," Narang stated.
In addition to its recent achievements, Transrail Lighting had announced plans in January to establish a new manufacturing unit to accommodate rising demand. This expansion plan underscores the company's commitment to responding to market needs while enhancing production capacity. The combination of new contracts and strategic initiatives is expected to pave the way for future growth, aligning with the company's long-term objectives. As it stands, Transrail Lighting is poised to leverage these developments for sustained progress both in domestic and international markets.