Arcotech gets Rs 157 cr order from IGM

Arcotech today said it has received an order from India Government Mint (IGM), Mumbai for supply of 3,000 tonnes of nickel brass coils worth Rs 157 crore.
In a communique to the stock exchanges, the company said there was an "option of another 25 per cent order, making it an aggregate order of Rs 196 crore".
IGM, Mumbai is a unit of Security Printing and Minting Corporation of India (SPMCIL), wholly owned by the government. Minting of circulation coins is the major functions of the IGM, Mumbai.
Shares of Arcotech today closed at 363.40 apiece, down 0.4 per cent, on the BSE.

During the April-June quarter of the current fiscal, Arcotech had reported Rs 128 crore revenue and Rs 7 crore net profit. It has manufacturing facility at Bawal in Haryana.