Shares of Surya Roshni jumped four percent on July 19 after the company bagged a contract to supply pipes to a public sector undertaking.
“The company has obtained orders amounting to Rs 91.27 crore (including GST) for supply of API- SL 3LPE-coated line pipes from Bharat Gas Resources, a a wholly owned subsidiary of Bharat Petroleum Corp Ltd (BPCL) that handles natural gas business,” said the firm.
The contract entails supplying 2,27,500 metres of four and 12 inch API SL Grade 3LPE-coated line pipes within 12 months. API stands for American Petroleum Institute and 3LPE for three layer polyethylene.
As of 9.40 am, the stock was up four percent at Rs 390. In the last five years, the stock is up 34 percent while in the current calendar year it is down 25 per cent.
Surya Roshni makes a number of products including lighting, home appliances, fans, steel pipes, and polyvinyl chloride (PVC) pipes. It exports to 50 countries.
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