Shares of Airfloa Rail Technology are likely to attract investor interest in Tuesday’s trade, October 13, after the company secured a fresh order worth ₹34.85 crore.
In a post-market regulatory filing on Monday, the company announced that it had received an order from Integral Coach Factory (ICF), under the ICF-HQ-Mechanical office of the Chief Depot Engineer (Mechanical), Integral Coach Factory, Chennai.
The order involves the interior design of one Vande Bharat Sleeper trainset and the development of one mock-up. The entire work is to be completed within 12 months from the date of issue of the letter of acceptance (LOA).
The company did not disclose the name of the entity awarding the contract but stated that the order was awarded by a domestic entity and is classified as a domestic order.
Airfloa said that neither the promoter nor the promoter group or group companies have any interest in the entity awarding the contract. The order does not fall under related-party transactions, and there was no delay in reporting the development.
Last week, the company signed a memorandum of understanding (MoU) with KTK Group Co. Ltd. to jointly pursue eligible platform screen door (PSD) projects in India.
The proposed collaboration aims to strengthen Airfloa’s capabilities in railway equipment manufacturing through technology collaboration, domestic production, and project execution.
The arrangement brings together KTK’s engineering and technical expertise in platform screen door systems with Airfloa’s local project execution capabilities, including project management, installation, testing, and commissioning.
It also envisages an Indian manufacturing program led by Airfloa for selected mechanical and electrical components used in full-height platform screen door systems, the company said in a regulatory filing dated October 10.
Shares extend rally, hit record highs
After a prolonged period of pressure, the shares staged a strong comeback in March and have since extended their momentum, hitting multiple record highs. From a record low of ₹246, the shares have surged 126% to trade at the current market price of ₹556 apiece. In the last seven months, the shares were up by 102.%.
The stock has closed in the green in each of the last two months, contributing to a significant portion of its gains. It surged 47% in August, marking its biggest monthly gain since listing.
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