Nitin Fire bags Rs 250 crore order from Abu Dhabi airport; stock surges over 5%
Shares of Nitin Fire Protection surged over 5 per cent in trade after the company bagged Rs 250 crore order from Abu Dhabi Airport.
By ET Online |
MUMBAI: Shares of Nitin Fire Protection surged over 5 per cent in trade after the company bagged Rs 250 crore order from Abu Dhabi Airport.
According to Nitin Shah, CMD, Nitin Fire Protection Industries, the order will be completed in next two-and-a-half years time.
The current orderbook of the company stands at Rs 450 crore.
Nitin Fire is looking for a strategic partner to enter the North American market via partnership. It is already in talks with a US company form a joint venture.
The company expects to win another $600 million order in next three months.
At 12:50 p.m; the stock was at Rs 76, up 4.32 per cent, on the BSE. It touched a high of Rs 77.50 and a low of Rs 73.20 in trade today.
According to Nitin Shah, CMD, Nitin Fire Protection Industries, the order will be completed in next two-and-a-half years time.
The current orderbook of the company stands at Rs 450 crore.
Nitin Fire is looking for a strategic partner to enter the North American market via partnership. It is already in talks with a US company form a joint venture.
The company expects to win another $600 million order in next three months.
At 12:50 p.m; the stock was at Rs 76, up 4.32 per cent, on the BSE. It touched a high of Rs 77.50 and a low of Rs 73.20 in trade today.
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