Artson Engineering bags new order from Hindalco Industries; stock gains ~1%

20 Jul 2022 , 10:48 AM

Artson Engineering Limited informed that it received a Purchase Order (PO) for Rs6.76 crore, inclusive of GST.

The company has received this order from India’s largest aluminium manufacturer and the world’s largest flat-rolled products company, Hindalco Industries Limited.

The order received is for the manufacturing of two Heat Exchangers for their Dahej Plant.

Hindalco has given a period of 7 months to the company to execute the said order.

The promoter/promoter group of the company does not have any interest in the entity that awarded the orders.

Artson Engineering Limited, a subsidiary of Tata Projects Limited, is a Hyderabad-based Engineering, Manufacturing, and Construction (EMC) Contracting Company with a diverse range of business in Pressure Equipment Manufacturing for Oil and Gas, Petrochemicals, Power, Metallurgy Industry, Bulk Liquid Storage Farm Construction, Industrial Piping, etc.

At around 10.52 AM, Artson Engineering was seen at Rs74.75 up by Rs0.7 or 0.95% from its previous closing of Rs74.05 on the BSE. The scrip opened at Rs76.95 and has touched intraday high and low of Rs77 and Rs74.05 respectively.