Omax Autos bags order worth Rs.90-100 Crores from Indian Railways

Omax Autos bags order worth Rs.90-100 Crores from Indian Railways

Order from Indian Railways may drive Omax Autos

Mumbai: Omax Autos Ltd has announced that Railway Division of the Company has successfully secured order for supply of Railway parts from Indian Railways for order value estimated between Rs. 90-100 Crores.

A formal Purchase Order would be received by the company in due course of time, it added.

The scrip opened at Rs. 63.9 and touched a high and low of Rs. 64.5 and Rs. 62 respectively. A total of 11245(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 133.79 crore.

The BSE group ‘B’ stock of face value Rs. 10 touched a 52 week high of Rs. 94 on 01-Jan-2016 and a 52 week low of Rs. 40 on 26-Jun-2015. Last one week high and low of the scrip stood at Rs. 67.4 and Rs. 62.25 respectively.

The promoters holding in the company stood at 56.24 % while Institutions and Non-Institutions held 0 % and 43.76 % respectively.

Omax Autos, in a post-market-hours disclosure on Thursday informed the exchanges that the railway division of the company has secured an order worth ₹90-100 crore for supply of parts to Indian Railways. Analysts will follow the stock closely on the development. Omax Autos posted a net profit of ₹4.61 crore on revenues of ₹262.22 crore. The stock traded above its 50 DMA.

Omax Autos manufactures a range of components for automobiles ranging from two-wheelers, three-wheelers, Off-Highway, passenger cars, commercial vehicles and railways. The advanced manufacturing and heavy fabrication facilities allow the company to ensure that all products developed for Indian Railways are flawless.The product range includes complete coach building, fuel tank, retention tanks and much more.

Source:RailNews