Marine Electricals Bags ₹19.35 Cr Order from STT Global; Stock at ₹171 🚀

Hey there, finance enthusiasts! Let’s dive into some exciting news from the corporate world. Marine Electricals (India) Limited, trading under the symbol MARINE, has just announced a significant order win that’s sure to get your attention.

The company has bagged a substantial order worth ₹19.35 crores (excluding taxes) from none other than STT Global Data Centres India Private Limited. This is a big deal, especially considering the last traded price of Marine Electricals was ₹171, with a slight dip of 2.3% before the market closed.

So, what’s this order all about? Marine Electricals will be handling the Supply, Installation, Testing, and Commissioning of Power Distribution Systems for STT Global’s Pune DC05 and Noida DC02 Projects. Think of it as providing the crucial electrical backbone for these massive data centers. Given the rapid expansion of the data center industry in India, securing such a contract from a major player like STT Global is a strong testament to Marine Electricals’ capabilities and expertise in this specialized field. 💡

The company expects to complete the delivery of these goods over a period of 6-8 months, which gives us a clear timeline for this project’s execution.

It’s also worth noting that the company has clarified that this order is not a related party transaction, and the Promoter/Promoter Group has no interest in the work, which is always a good sign for corporate governance. ✅

This order win underscores Marine Electricals’ position in the power distribution sector, particularly within the high-growth data center segment. It’s definitely a development to keep an eye on as the company continues to expand its footprint. Stay tuned for more updates!

source: Corporate Announcement

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