RMC Switchgears gains on receiving work order from AMISP
RMC Switchgears is currently trading at Rs. 411.00, up by 4.40 points or 1.08% from its previous closing of Rs. 406.60 on the BSE.
The scrip opened at Rs. 412.00 and has touched a high and low of Rs. 417.95 and Rs. 387.00 respectively. So far 19875 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 675.00 on 07-Nov-2023 and a 52 week low of Rs. 202.17 on 08-Jun-2023.
Last one week high and low of the scrip stood at Rs. 441.00 and Rs. 387.00 respectively. The current market cap of the company is Rs. 413.36 crore.
The promoters holding in the company stood at 52.93%, while Institutions and Non-Institutions held 3.52% and 43.55% respectively.
RMC Switchgears has received a significant work order from an Advanced Metering Infrastructure Service Provider (AMISP) on June 3, 2024 for Supply of SMC Meter Enclosures for Smart Meters for the projects in Pashchimanchal Vidyut Vitran Nigam (PVVNL) and Madhyanchal Vidyut Vitaran Nigam (MVVNL).
The value of work order is around Rs 56.68 crore including GST. The work order involves Design, Engineering, Manufacturing, Integration, Testing, Inspection, Packing, Supply, Transportation, and Insurance of SMC Box for Three Phase LT CT - Consumer & DT Meter.
RMC Switchgears is primarily engaged in the business of ‘Switchgear Engineering’, ‘ECI contracts for power distribution / transmission sector’ and ‘PVC Marble and Sold Surface’.
