Shares of Oriental Rail Infrastructure Ltd were locked at 5% upper circuit on 11 July after the company announced securing new orders from India Railways. 

The shares also hit a 52-week high of Rs 378.55, and there were pending buy orders for 66,586 shares, and no sellers were available.

In its regulatory filing, the company said, “Oriental Rail has secured orders worth Rs 19,33,83,382.04 from Rail Coach Factory (RCF), Kapurthala, Indian Railways.”

The contract includes the manufacturing and supply of 194 sets of ‘Seats’ for LHB GS coaches, 96 sets of ‘Seats and Berths’ for LHB SCN coaches, and 29 sets of ‘Seats and Berths’ with MS corrugated sheets for LHB AC3T coaches and has to be completed within the next 11 months. 

95% of the contract value will be paid upon receipt of an inspection certificate from the nominated agency and proof of dispatch or delivery of the material. The remaining 5% will be paid after the goods are received, inspected, and accepted.

Oriental Rail Infrastructure shares have surged 278% in the last nine months, delivering an impressive 560% return over the past year.

Recently, the company has also modernised its artificial leather (Rexene) plant and have doubled its production capacity to 28 lakh meters annually to 24 lakh meters annually. 

At 12:23 pm, the shares of Oriental Rail were locked 5% higher at Rs 378.55 on BSE.

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