Voltamp Transformers received a Letter of Intent (LoI) from Gujarat Energy Transmission Corporation Limited (GETCO) to supply power transformers of various ratings, valued at ₹263.33 Crore (excluding GST).
The contract involves the design, manufacture, testing, and supply of power transformers based on specifications detailed in GETCO’s tender requirements.
At the time of closing on November 6, 2024 shares of Voltamp Transformers closed at ₹10,800 which is a 1.94% gain than the previous close. Voltamp Transformers stock has gained a total of 101% in the last one year, and 60% gain since the beginning of the year.
Scheduled for completion within 12 months, this contract marks a strategic expansion for Voltamp in the Indian power sector. Voltamp clarified that this is a domestic contract, with no related party transactions involved. The large order is expected to boost Voltamp’s market position and provide stable revenue over the upcoming year.
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