Artson Engineering on Sunday said it had bagged an order from Hindalco Industries.

What Happened: In an exchange filing, the Tata Group company said that the order is for the engineering, civil works, supply and fabrication of third coke silos. The order is worth around ₹33 crore and is expected to be completed within 18 months.

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Last month, the company said it plans to change its name to Artson Ltd. The company also bagged the approval for a Business Transfer Agreement (BTA) concerning the sale of its Nagpur Division to Tata Projects Limited.

This sale is expected to be finalised by October 31, 2024, and is anticipated to generate between ₹20 crore and ₹25 crore. However, the final consideration for the transaction will depend on the acceptance and approval of the terms by Tata Projects. Artson Engineering is a subsidiary of Tata Projects.

Price Action: Shares of Artson Engineering were locked in the 5% lower circuit at ₹180.50 on Monday. The stock has been on a losing streak for six straight sessions.

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