Shares of Transrail Lighting rose as much as 10.3 per cent to an intraday high of Rs. 498 on September 30 after the company announced new orders worth more than Rs. 5.74 bn. The contracts are primarily for its domestic Transmission and Distribution business, according to a company exchange filing.

The latest awards include Engineering, Procurement and Construction projects for transmission lines, transmission-line reconductoring projects involving High Temperature Low Sag conductors, and the supply of poles. A significant portion of the orders relates to reconductoring work using carbon-core HTLS conductors manufactured at the company’s Silvassa plant.

The order wins also include an EPC contract from a large private-sector Indian developer for the construction of a transmission line. With these contracts, Transrail Lighting’s order intake for the year has increased to Rs. 16.09 bn. The company has a further Rs. 6.94 bn of orders where it is the L1 bidder.

The company said the awards reflected customer confidence in its engineering, manufacturing and execution capabilities. It added that the orders demonstrated its capabilities in HTLS conductor manufacturing and stringing, supported by recently expanded production capacity.

Transrail Lighting has increased its conductor manufacturing capacity by 70 per cent to 40,800 km per annum and doubled its tower manufacturing capacity to 172,400 t per annum. The company said it continues to have a healthy bidding pipeline across domestic and international markets, supported by its order book and expanded manufacturing capabilities.

The stock was trading at Rs. 477.65 at 3.14 pm, up 5.8 per cent, extending its gains to a second consecutive session. Despite the latest rise, the shares have declined more than 14 per cent so far this year and about 34 per cent over the past 12 months.