Tata Power gains on winning defence order worth Rs 200 crore
Tata Power was up 4% at Rs 75.95 on the BSE in intra-day trade after the company’s strategic engineering division, Tata Power SED has won an order worth over Rs 200 crore from Ministry of Defence.
“Tata Power's strategic engineering division, Tata Power SED has received an order from, Ministry of Defence, Government of India for the supply of one regiment of command post and launcher of Pinaka multi rocket launcher system (MRLS) to Indian Army. The order worth over Rs 200 crore includes supply of 20 launchers and 8 command posts," Tata Power said in a statement.
Pinaka weapon system is one of the first 'Create in India' product designed & developed by Indian private industry in association with Armament Research and Development Establishment (DRDO).
Tata Power SED had delivered one regiment of Pinaka launcher and command post in the period of 2006 to 2010, which was then inducted in the Army.
Till 09:56 am; a combined 3.43 million shares changed hands on the counter on the BSE and NSE.
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Posted 09 May 11 | replies (0 new)