RITES, BEML, Linde India shares gain up to 7% on order wins

Shares of a couple of companies jumped up to 7 per cent in Wednesday's trade after receiving multi-crore contracts. RITES gained as the company emerged as lowest bidder (L-1) in the tender for Testing & Inspection of Rails as per IRS T-12 2009 for Indian Railways. The estimated order value is around Rs 65.40 crore. BEML shares jumped after the company bagged order from Ministry of Defence (Army) for supply of Command Post Vehicles with contract value of around Rs 101 crore.

Linde India shares soared as the company was awarded a ‘Letter of Acceptance’ (LoA) by Indian Oil Corporation (IOC) in connection with the job-work contract for setting-up of Air Separation Unit (ASU) within its Panipat Refinery Complex.

BEML shares climbed 4.69 per cent to hit a high of Rs 2,183.95 on BSE.

RITES said it would be inspecting 60,00,000 mt rails (each year around 12,00,000 mt) rails for Indian Railways for fve years. The order was won through competitive bidding and hence at “arms length”. RITES said it will approximately receive Rs 65.40 crore plus taxes for the inspection fees during the 5 years. This stock jumped 3.19 per cent to hit a high of Rs 488.90.

Linde India shares soared 6.96 per cent to Rs 6,164.65. Linde India's LoA is for setting-up of Air Separation Unit (ASU) at IOC's Panipat Refinery Complex for production and supply of Instrument Air, Plant Air and Cryogenic Nitrogen to IOCL Panipat Refinery Expansion Project (P25).

On completion of the construction and the performance test of the aforesaid ASU, Linde India will enter into requisite Agreements with IOC for operating and maintaining the facility for a period of 20 years from the first delivery date.

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