Hind Rectifiers bags Rs. 88 crore order, stock surges

Hind Rectifiers Limited, a manufacturer of technically engineered products, informed the exchanges that it has bagged orders of Rs. 88.05 crore. 
  
The order includes substantial orders from Diesel Locomotive Works worth Rs. 61 crore, said the company's release. With these orders, the company clocks an all-time high pending order book of Rs. 292.92 crore. 
  
Further, the company's management informed that the order won are for the products that were launched last year and are all new products. It also put light on backward integration plans that allowed the company to reduce its import costs which will improve the margins in the upcoming quarters. 
  
Hind Rectifiers Limited is an engineering company engaged in manufacturing of highly technical and strenuously engineered products using dynamic tools, leading-edge technology and nonpareil design. These products are made primarily for the railways and a diverse segment of industrial applications. 
  

The stock reacted positively to the news and touched an intraday high of Rs. 112.80 per share. At 2:50 hours, the stock showed a gain of 3 per cent to trade at Rs. 111.60 on BSE. The BSE Sensex traded at 35,985, higher by 135 points.