Skipper zooms 17 per cent on new order win

Skipper Limited on Monday gained nearly 17 per cent on BSE after winning order from Power Grid Corporation Of India.

The company has received orders worth Rs. 524 crore from Power Grid Corporation Of India for supply and installation of 765kV, 190km Hexa Zebra Conductor Transmission Line from Fatehgarh2 to Bhadla2 under TBCB bidding conducted by PFC for Green Energy Corridor projects.

During Q1FY20, the company had secured new orders worth Rs. 185 crores for engineering products from projects related to Power Grid Corporation of India Limited (PGCIL), State Electricity Boards and others.

The order book of Skipper, as on June 30, 2019, stood at Rs. 2363 crores which comprises of Exports-17 per cent and Domestic- 83 per cent. The company has a strong bidding pipeline of Rs. 3870 crores and expects a substantial rise in the volume of international orders in FY20.

On Monday, the stock of Skipper Limited had opened at Rs. 51.45 and spiked nearly 17 per cent and made an intraday high of Rs. 58.80 on the BSE. The stock had touched a low of Rs. 49.90. It closed at Rs. 56.50, with an increase of 12.21 per cent from the previous close of Rs. 50.35.