TD Power Systems zooms ~6% on bagging ₹142 Crore order

15 Oct 2024 , 02:25 PM

T D Power Systems Ltd’s shares rose more than 6% on Tuesday, 15 October, after the firm stated that it received orders from two large international gas engine original equipment manufacturers (OEMs). The total value of these orders is ₹142 Crore. According to the exchange filing, T D Power Systems will provide gas engine generators to the two OEMs.

At around 12.53 PM, TD Power Systems was trading 5.56% higher at ₹407.05, against the previous close of ₹385.60 on NSE. The counter touched an intraday high and low of ₹409.80, and ₹384.30, respectively.

The business stated that the recent orders represent an increase in demand for its gas engine segment, which is used in grid stabilisation units, baseload power, and data centres.

TD Power Systems stock rose 6.1% to a high of ₹409.80 after opening at ₹390 on the BSE.

TD Power Systems further stated that all of the generators will be built for export markets and delivered in stages throughout this fiscal year and FY26.

“The company anticipates additional orders in this segment over the next few quarters. These orders reflect the company’s improved position in foreign markets and increased acceptance of its products for key applications,” according to the filing.

TD Power Systems manufactures generators and motors for a variety of industries. The company is headquartered in India, with sales offices in Germany, Turkey, Japan, and the United States.

In July, TD Power Systems Ltd received an order for gas turbine generators worth $9.28 Million (about. ₹77.5 Crore) from a large US OEM.

The generators were to be used largely in fracking wells around the United States. They will provide critical power supply and backup for artificial intelligence server farms, as well as other applications, the business announced. 

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