Skipper Ltd rises 3% on bagging orders worth Rs 588 crore

Skipper Limited won orders worth Rs 468 crore in the domestic transmission and distribution segment from Power Grid Corporation and other customers. It got orders worth Rs 120 crore from the International T&D businesses

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Shares of Skipper Limited, a heavy electrical equipment maker, surged over 3 percent on October 16 afternoon after the company said it won orders worth Rs 588 crore.

Skipper Limited said it won orders worth Rs 468 crore in the Domestic transmission and distribution (T&D) segment from Power Grid Corporation of India (PGCIL) and other customers. It also got business worth Rs 120 crore from international T&D businesses.

At 12.40 pm, the stock rose 3.37 percent to Rs 234 per share on BSE.

“We are pleased with the new order inflows of 588 crores from Domestic and International T&D markets,” Skipper Limited director Sharan Bansal said.

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The consistent order inflows in the T&D business led to total orders in-flow of Rs 1,803 crore this year, registering a 200 percent growth over the year-ago period, he said. ” We expect the momentum to continue in T&D ordering in both Domestic and International markets with some more wins” in the future, Bansal said.

Skipper Limited is a manufacturer of power transmission & distribution, telecom and railway structures.

The company says its footprint spans across regions such as Latin America, West Asia, Africa, Australia and North America.