DEEDEV Secures ₹170 Cr Critical Piping Order, Stock Jumps 3.3% 🚀
Big news from the industrial sector! DEE Development Engineers Limited (DEEDEV) has just announced a substantial new order that’s got investors buzzing. The company, known for its piping systems, has received a Letter of Intent (LOI) from an Indian Public Sector Undertaking (PSU) operating in the crucial Power Sector. This is a significant win, valued at approximately ₹170 Crores! 💰
This major contract involves the supply of around 1900 Metric Tons (MT) of Critical Piping for two important power projects. For a company like DEEDEV, securing such a large order from a domestic PSU underscores its expertise and reliability in a vital infrastructure segment.
What are the key details?
- Customer: An Indian Public Sector Undertaking in the Power Sector.
- Order Value: Approximately ₹170 Crores.
- Scope: Supply of roughly 1900 MT of critical piping for two major power projects.
- Execution Timeline: The projects have varying timelines, ranging from 9 to 15 months from the date of the LOI, ensuring a steady stream of work for the company.
- Payment Terms: The payment structure is favorable, with 90% of the amount due within 90 days of material acceptance and the remaining 10% within 90 days after the completion of the purchase order.
This announcement clearly resonated with the market. Following the news, DEEDEV’s stock saw a positive reaction, trading up 3.3% at ₹276.65. Such orders are crucial for companies like DEEDEV, providing revenue visibility and strengthening their position in the competitive power infrastructure space. It’s a testament to their capabilities and a positive indicator for their future performance. Keep an eye on DEEDEV as they continue to power up India’s infrastructure! ✨
source: Corporate Announcement
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