Shares of Krishna Defence and Allied Industries Ltd. hit a record high after the company secured a Rs 63.48 crore order from the Ministry of Defence.
The company bagged an order for the supply of special heating equipment to be used by the armed forces at sub-zero temperatures. The order is expected to be executed over the next 12 months.
The company's management called the order win a "significant milestone", in an exchange filing. "This order showcases our strength as a company with an experienced team of engineers who work closely with customers to design and develop products that meet their unique requirements," the statement said.
Shares of the company surged 7.20% to Rs 186 apiece, compared to a 0.05% advance in the benchmark NSE Nifty 50 as of 11:43 a.m.
The stock gained 11.33% intraday, hitting its all-time high at Rs 193.13 apiece. Total traded volume stood at 8.7 times its 30-day average. The relative strength index was 69.8.
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