ALSTOM India jumped 4.94% to Rs 339.65 at 10:04 IST on BSE after the company said it bagged an order from Bharat Heavy Electricals to supply boilers for a thermal power plant in Madhya Pradesh.
The announcement was made after market hours on Thursday, 2 May 2013.
Meanwhile, the BSE Sensex was down 66.84 points, or 0.34%, to 19,668.93.
On BSE, 8,653 shares were traded in the counter as against an average daily volume of 3,719 shares in the past one quarter.
The stock hit a high of Rs 343.45 and a low of Rs 333 so far during the day. The stock had hit a 52-week high of Rs 433 on 29 November 2012. The stock had hit a 52-week low of Rs 297 on 4 March 2013.
The stock had underperformed the market over the past one month till 2 May 2013, sliding 2.84% compared with the Sensex's 3.65% rise. The scrip had also underperformed the market in past one quarter, falling 10.52% as against Sensex's 0.23% fall.
The small-cap company has an equity capital of Rs 67.23 crore. Face value per share is Rs 10.
ALSTOM India said it bagged a contract by Bharat Heavy Electricals (Bhel), to supply components and services for the 2x800 megawatts (MW) Gadarwara super thermal power plant at Gadarwara, Narsingpur, Madhya Pradesh, India. This contract is worth approximately 100 million euros (Rs 674 crore). ALSTOM India's scope of work would be approximately 50 million euros (Rs 337 crore).
Under the scope of the contract, Alstom Thermal Power will cooperate with Bhel in designing the boilers and supply pressure parts of the 800 MW supercritical boilers along with pulverisers and airpreheater components. It will also assist Bhel with technical advisors during the erection and commissioning of the two units. Key components will be manufactured from Alstom's facilities in Wellsville and Concordia in the USA as well as in Durgapur and Shahabad, India. Unit I is expected to be commissioned in 2016, whilst unit II is expected to be commissioned in 2017, ALSTOM India said in a statement.
Andreas Lusch, Senior Vice President of Alstom Thermal Power's Steam business, said: "We are delighted to continue to partner with BHEL on this project. Alstom is committed to further invest and develop in India in power sector."
Net profit of ALSTOM India was almost flat at Rs 130.88 crore in Q4 March 2013 compared with net profit of Rs 130.38 crore Q4 March 2012. Net sales rose 3.33% to Rs 1109.52 crore in Q4 March 2013 over Q4 March 2012. The result was announced after trading hours on Thursday, 2 May 2013.
ALSTOM India provides engineering, manufacturing, project management and supply of products and solutions for infrastructure sector.
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