Kineco bags Rs 113 cr order for Vande Bharat trains, parent Indo National`s shares shoot up
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City-based Indo National Ltd -- the makers of Nippo brand of batteries and torches -- said on Monday that its subsidiary Kineco Ltd has bagged a Rs 113 crore order for interior works for Vande Bharat trains being made at the Integral Coach Factory here.
On Monday, the shares of Indo National hit the 20 per cent upper circuit after opening at Rs 345.
The Goa-based Kineco, one of India's leading composite technology provider for railways and defence, also makes fibre reinforced plastics (FRP) pressure vessels for chemical procession and water filtration plants.
Kineco was also awarded with the largest order of 68 train fronts of the same Vande Bharat trains.
According to Shekhar Sardessai, Kineco's Founder and Managing Director, the company has been on the forefront of the Indian Railways modernisation programme for many years now.
Its railway product portfolio includes rail coach interiors, toilet modules, aerodynamic front ends, driver cab interiors and hard seating systems.
Indo National holds 51 per cent stake in Kineco.
Kineco further holds a 51 per cent stake in Kineco Kaman Composites Pvt Ltd, which is a joint venture with Kaman Aerospace Group, the US, to manufacture advanced composites for the medical and aerospace industries.
