Surya Roshni obtains order worth Rs. 232 crore from IOC

Delhi-headquartered lighting products manufacturer Surya Roshni informed that it has received an order worth Rs. 232 crore, on Wednesday.

The company informed that it has obtained order aggregating to Rs. 231.18 crore for the supply of API 3LPE coated 5L grade pipes to Indian Oil Corporation (IOC) through competitive bidding. The contract is to executed over a period of 10 months in IOC’s different territories such as Jharkhand, Berhampur, Balasore, Paradip, Achutapuram, Telangana, Haldia, Bolpur and Barauni etc. The order is categorised under one-time contract.

The company will supply 1,35,280 meter 5L grade pipe of different sizes and specifications. The order value is Rs. 231.18 crore, excluding GST charges.

Surya Roshni is engaged in manufacturing of GI steel pipes and is the largest lighting products company. The company manufactures Electric Resistance Welded (ERW) pipes while in the lighting segment, the company manufactures General Lighting Systems (GLS) and Fluorescent Tube Lamps (FTL) sold under the brand name ‘Surya’.

Reacting positively to the news, stock price touched an intraday high of Rs. 253.65 per share. Stock closed on a negative note at Rs. 245.50, down by 0.51 per cent on BSE. The benchmark index BSE Sensex closed trading session higher by 490 points at 39055.