Shares of Oriental Rail Infrastructure jumped back in the green on Wednesday halting their two-straight session losing streak. The Oriental Rail share price jumped up 5% to hit the upper circuit at ₹254.90.
What Happened: The company on Tuesday evening announced that the Indian Railways has increased the order quantity of BOXNHL Wagons from 2,964 to 3,055 on the same terms and conditions. The order is valued at ₹1,249 crore and is expected to be completed and delivered by August 31.
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This substantial order adds to Oriental Foundry’s portfolio, as the company had previously secured several similar orders. In January, the company secured an order to manufacture and supply 122 BOXNHL Wagons and two brake vans, with a total worth of ₹55.77 crore for NTPC.
Earlier in February, the company made headlines as ace investor Mukul Agrawal picked up a stake in the company. Agrawal was allotted 34 lakh shares at a price of ₹169.
Price Action: Shares of Oriental Rail Infrastructure were up 4% to trade at ₹252.50 on Thursday afternoon.
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