Shares of Artson Engineering, which were trading in the red in early trade, shot up sharply after the company announced bagging an order.

What Happened: Artson Engineering has bagged an order worth around ₹11.50 crore from Deepak Nitrite. The Mumbai-based engineering company revealed that the order involves the manufacture and supply of four Anhydrous Ammonia Storage Tanks, expected to be delivered within 32 weeks.

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This development comes on the heels of Artson Engineering’s recent success in securing a ₹33 crore order from Hindalco Industries for the engineering, civil works, supply and fabrication of third coke silos, expected to be completed within 18 months.

The Tata Group company announced a name change to Artson Limited in August 2024. Artson Engineering is a subsidiary of Tata Projects.

Price Action: Shares of Artson Engineering were up 3.86% to trade at ₹189.50 on Monday afternoon. The stock has gone down around 8% in the past 30 days.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.