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

Shares of Alfa Transformers jumped 2% to hit a new 52-week high of ₹92.21 on Monday morning.

What Happened: The company on Saturday announced securing an order from Tata Power Southern Odisha Distribution Limited, a joint venture between Tata Power and the Government of Odisha, where Tata Power Company holds the majority stake at 51%.

The order is for the design, manufacturing and supply of 100KVA 11/0.4KV AL Transformers BIS Level-II. The order is worth ₹1.09 crore and is expected to be supplied within 30 days from the receipt of the order. The transformers will be supplied from the company’s Vadodara plant.

See Also: TCS Plans To Cut U.S. Dependence, Eyes Markets In Europe, Japan, Latin America

This is the company’s third order from Tata Power in the last month. Earlier the company bagged an order for the design, manufacturing and supply of 7-11 KV 500KVA Line Voltage Regulator Transformers worth around ₹1.60 crore. This was in addition to the order warded by Tata Power Northen Odisha Distribution Limited worth around ₹2 crore announced earlier in December.

The steady influx of orders has ensured the stock’s strong performance at the bourses. In the last 30 days, the stock has surged up over 36%.

Price Action: Shares of Alfa Transformers were locked in 2% upper circuit at ₹92.21 on Monday morning.

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