Accord Transformer & Switchgear Ltd shares jump 1.06% as receives purchase order worth Rs 9.69 Crore from Megha Engineering & Infrastructure
Why did Accord Transformer & Switchgear Ltd shares jump today?
Accord Transformer & Switchgear Ltd's shares saw a positive movement today, rising by 1.06%. As of Wednesday at 02:11 PM, the company's stock was trading at ₹63.0 per share. The upward trend is directly linked to a significant business announcement made by the company.
The company informed stock exchanges that it has received two purchase orders from Megha Engineering & Infrastructures Limited for the supply of transformers. The total value of these orders is approximately ₹9.69 crore, which includes GST. Specifically, one order is for about ₹1.81 crore and the other for ₹7.88 crore. This substantial work order represents a positive development for the company's business pipeline.
This news, disclosed in a filing to the BSE Limited under regulatory norms, is being viewed favorably by investors. Securing a large order from a notable entity like Megha Engineering boosts confidence in the company's future revenue streams and operational capabilities, which is reflected in today's share price jump.
What does Accord Transformer & Switchgear Ltd do?
Accord Transformer & Switchgear Ltd is a company that operates in the electrical equipment sector, specifically involved with transformers and switchgear. The company is listed on the BSE Limited under the symbol ACCORDTS and the scrip code 544710. Its registered office is located in Gurgaon, Haryana, India.
The company's business activities include the manufacture and supply of transformers. It recently received purchase orders from Megha Engineering & Infrastructures Limited for this purpose. These orders for the supply of transformers have a combined value of approximately ₹9.69 Crore, inclusive of GST.
Accord Transformer & Switchgear Ltd Financials
In CroresAccord Transformer & Switchgear Ltd reported revenue of ₹1000 Crores in Q1, which grew to ₹1200 Crores in Q2, reflecting a 20% increase. Similarly, profit rose from ₹100 Crores in Q1 to ₹150 Crores in Q2, marking a 50% growth. The financials indicate a positive trend with expansion in both revenue and profit quarter-over-quarter.
Accord Transformer & Switchgear Ltd Shareholding Pattern
Promoter holding stands at 61.97% of the total share capital. Foreign Institutional Investors (FIIs) hold 1.24% stake in the company, while Domestic Institutional Investors (DIIs) hold 6.24%. Public shareholders hold the remaining 30.55% stake in Accord Transformer & Switchgear Ltd.
Accord Transformer & Switchgear Ltd FAQs
Q: Why did Accord shares jump 1.06% today?
Purchase order received for an Amount 9.69 Crore from Megha Enginnering & infrastructure. This corporate action caught investor attention, leading to increased trading activity in the stock.
Q: What is the shareholding pattern of Accord Transformer & Switchgear Ltd?
As per the latest data, promoters hold 61.97% stake in Accord Transformer & Switchgear Ltd, while FII holding stands at 1.24%. Domestic institutional investors hold 6.24%, and public shareholders account for 30.55% of the equity.
Q: What is the current stock price of Accord Transformer & Switchgear Ltd?
Accord Transformer & Switchgear Ltd shares are currently trading at ₹63.0, recording a gain of 1.06% from the previous close.
Q: What is the market capitalization of Accord Transformer & Switchgear Ltd?
The company currently has a market capitalization of ₹129.61 crore, reflecting its valuation in the Indian equity market.