Stone India spurts 6% on fresh order win

NEW DELHI: Shares of Stone India surged 6 per cent on Thursday after the company informed BSE that it has secured an order worth Rs 28.70 crore in Chhattishgarh. In a regulatory filing to BSE, the company said it has “bagged an order for supply and installation of 9,090 units of bio-toilets to the government of Chhattisgarh, in a contract valued at Rs 28.70 crore via its business associate, M/s Cranberry Westlink T&D. This is the single largest order of bio-toilets for Stone India.”

Following the announcement, the stock rallied 6.19 per cent to settle at Rs 78.90 on BSE. Yet at this price, the scrip was trading 25 per cent lower than its 52-week high of Rs 105.40 hit on January 5 this year.

The smallcap company is engaged into manufacturing of brake systems and train lighting alternators. It offers a wide array of mechanical and engineering products for the rail road industry.

Here’s how the stock has fared against its peers in the past one month.