Stone India bags Rs 4.9 crore order; stock up 3%

MUMBAI: Stone India has received the first bulk order for supply of Air Spring for passenger coaches from Rashtriya Coach Factory, Kapurthala for 123 coach sets. The order is valued at Rs 4.9 crore. (Watch)

The recently announced ���Duranta Express��� will use this new generation pneumatic suspension system which will provide superior air cushion ride for passengers for trains running at a higher speed. Stone India is manufacturing this product under collaboration from Sumitomo Electric Industries, Japan - the leading supplier of such products for Bullet Trains in Japan.

The company expects to receive more orders for Air Spring during the year, it said in a statement. This product will be supplied both from Kolkata as well as from its new plant in Nalagarh, Himachal Pradesh.

At 12:10 pm, shares of the company were trading at Rs 37.80, up 2.86 per cent on the BSE.