Micro Cap Stock Jumps To 52-Week High After Bagging Order From Tata Power

Shares of Alfa Transformers jumped 5% to hit a new 52-week high of ₹78.20 on Monday morning.

What Happened: The company on last Saturday announced bagging an order from Tata Power Southern Odisha Distribution Limited. TP Southern Odisha Distribution Limited is a joint venture between Tata Power and the Government of Odisha, with the majority stake being held by Tata Power Company (51%).

The order is for the design, manufacturing and supply of 7-11 KV 500KVA Line Voltage Regulator Transformers. The order is worth around ₹1.60 crore and is expected to be completed within three months of the receipt of the word order.

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The company last week had bagged another order from the Tata Group company. The order was worth around ₹2 crore and was awarded by the Tata Power Northen Odisha Distribution Limited. The stock has had a great year at the bourses. In the last year, the stock has surged up over 500%.

Price Action: Shares of the company were locked in 5% upper circuit at ₹78.20 on Monday morning.

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