Shares of Krishna Defence and Allied Industries Ltd. hit a record high after the company secured a Rs 63.48 crore order from the Ministry of Defence.
The company bagged an order for the supply of special heating equipment to be used by the armed forces at sub-zero temperatures. The order is expected to be executed over the next 12 months.
The company's management called the order win a "significant milestone", in an exchange filing. "This order showcases our strength as a company with an experienced team of engineers who work closely with customers to design and develop products that meet their unique requirements," the statement said.
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Shares of the company surged 7.20% to Rs 186 apiece, compared to a 0.05% advance in the benchmark NSE Nifty 50 as of 11:43 a.m.
The stock gained 11.33% intraday, hitting its all-time high at Rs 193.13 apiece. Total traded volume stood at 8.7 times its 30-day average. The relative strength index was 69.8.