Hind Rectifiers Shares Jump After Rs 127-Crore Order Win From Indian Railways

Shares of Hind Rectifiers Ltd. rose nearly 10% during early trade on Monday, after the company received an order worth 127 crore from the Indian Railways.

The domestic order is primarily a supply order, according to the exchange filing on Friday. This order is set to be executed between financial year 2026 and 2027.

There were reported plans of expansion around the power and railway equipment producer in early February this year. The report said that the company is expanding its manufacturing facilities in Nashik and has also decided to set up a subsidiary for developing high-tech products and solutions in AI, Web3 and others, according to a top official.

Hind Rectifiers' Managing Director and Chief Executive Officer Suramya Nevatia had said that the company is actively progressing with capacity expansion plans at the Sinnar and Satpur plants in Nashik, along with focus on backward integration which will improve cost efficiency.

The company board has also approved the incorporation of a wholly owned subsidiary focused on developing cutting-edge products and solutions in information technology, artificial intelligence, Web3, and various software.

Hind Rectifiers stock rose as much as 9.99% during early trade on Monday to Rs 1,388 apiece on the NSE. It was trading 2.62% higher at Rs 1,295 apiece, compared to a 0.30% decline in the benchmark Nifty 50 as of 10:04 a.m.

It has risen 92.58% in the last 12 months and declined 6.21% on a year-to-date basis. The total traded volume so far in the day stood at 17 times its 30-day average. The relative strength index was at 38.88.