Indo-National skyrockets ~12% as subsidiary secures Rs113 crore order

19 Sep 2022 , 10:43 AM

Indo National Limited’s subsidiary Kineco Limited has received an order worth Rs113 crore from Integral Coach Factory, Chennai, for the supply and installation of modular interiors for Vande Bharat (originally known as Train 18) semi-high speed trains.

Following this development, Indo-National’s counter rallied 12.13% at Rs383.05, against the previous close of Rs341.60 on NSE. So far, the stock hit an intraday high of Rs397.

Kineco is India’s leading composite technology provider based in Goa.

Kineco was also granted the largest order of 68 Train Fronts of the same Vande Bharat Trains earlier this year. These orders, along with Kineco’s existing strong order book, will propel Kineco to become one of India’s top train interior suppliers.

The Vande Bharat Train is India’s first semi-high speed train, developed and constructed under the Indian Government’s Make in India programme by Integral Coach Factory (ICF), Perambur Chennai- the Indian Railways’ oldest and biggest train manufacturing unit. This train provides improved energy efficiency as well as superior passenger comfort and trip experience.

Kineco has a significant presence in the Design to Build turnkey railway interior projects for new and reconditioned coaches and is one of the few Indian players certified for such projects.

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