Signet Industries Shares Surge Over 19% After Securing Orders Worth Rs 120 Crore

Shares of Signet Industries Ltd. jumped over 19% on Tuesday after it bagged orders worth Rs 120 crore from various EPC contractors.

These orders are for pipes in a water supply project in Madhya Pradesh, Uttar Pradesh, Orissa, Rajasthan, and Maharashtra.

Shares of the company rose 18.51% to Rs 51.55 apiece as of 11:18 a.m., compared to a 0.57% gain in the NSE Nifty 50.

The scrip gained as much as 19.31% to Rs 51.90 apiece on Tuesday, the most since Feb 15, 2023. The average traded volume so far in the day stood at 22.5 times its monthly average. The relative strength index was at 78, suggesting stock may be overbought.