Shares of Schneider Electric Infrastructure hit a more than seven-year high of Rs 202.15 on the BSE on Tuesday, gaining 14% intraday as trading volumes picked up in a subdued market amid an upbeat business outlook. Shares of the company have risen 44% over the past 12 trading days.

The stock surpassed the previous high of Rs 195.40 on October 4, 2022. It is currently trading at its highest level since August 2015. The stock hit an all-time high of Rs 241 on June 24, 2015.

Shares of Schneider Electric were up 13% at Rs 200.60 at 11:49 am, while the S&P BSE Sensex was down 0.94%. The average volume of over-the-counter trades has almost quadrupled today. So far, 7.63 million shares have changed hands on the NSE and BSE.

Schneider Electric manufactures, designs, builds and supplies technologically advanced power distribution products and systems, including distribution transformers, medium-voltage switchgear, low and medium-voltage protective relays, and power distribution and automation equipment.

In the first half of the financial year 2022-23 (H1FY23) (April-September), Schneider Electric reported a profit after tax of Rs 35.2 crore, compared to a loss of Rs 24.8 crore in H1FY22. Sales rose 34.3% year-on-year to Rs 792 crore. EBITDA margin expanded 560 bps YoY to 6.7% from 1.1% in H1FY22.

During the quarter, the company’s orders fell by 3.2% to Rs 298.89 crore. The company said that orders were lost in the second quarter as some order finalization shifted to the October-December quarter (Q3), with growth driven by the Diffused and MMM segments.

With several reforms in the power and grid space, the company expects the sector to remain resilient. That, along with efforts toward renewable energy, privatization and reducing losses in the transmission and distribution (T&D) sector, are all indicators in the company’s favour.

The transportation sector will also see several exciting projects, including bullet trains and corridors. Management expects that they will strengthen the company’s order pipeline once completed.