Oriental Rail Infrastructure’s subsidiary, Oriental Foundry, has secured an order worth Rs 2.9 crore from Southern Railway, Indian Railways. The order is for the supply and manufacture of 826 units of coupler body with shank wear plate.
About the order
As per the company’s exchange filing, the total value of the order is Rs 2,93,86,602.00 (Rupees Two Crore Ninety-Three Lakh Eighty-Six Thousand Six Hundred Two only), and 95% of the payment will be made against the inspection certificate. The remaining balance of 5% will be made after the receipt, inspection, and acceptance of the goods is done by the consignee.
The order will be executed by September 30, 2026, and falls under domestic procurement. The company has also stated that its promoter group has no interest in the order and no related party transactions are involved in the contract.
The order has been disclosed in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Share Price
Following the announcement, Oriental’s share price was up marginally and closed at Rs 153.60. Over the past five trading sessions, the company’s stock has declined by nearly 9%