Shares of Dee Development Engineers Ltd skyrocketed 15% on 20 February after the company received a $40 million order from an international entity to supply HRSG piping for 16 units.

In an exchange filing, the business stated that it had received a Letter of Intent from one of the leading international OEM groups in the power sector, headquartered in the United States. It also stated that it is unable to publish the customer’s name owing to a commercial issue.

DEE Development stated that the letter of intent is valid until 18 February 2027.

Last month, the company’s board of directors authorised a change in top finance leadership, accepting the departure of Sameer Agarwal and naming Brham Prakash Yadav as the new CFO.

DEE Development Engineers (DDEL) operates as an engineering company that delivers specialised process piping solutions to industries such as oil and gas, power (including nuclear), process industries, and chemicals. The company provides these solutions through its integrated engineering, procurement, and manufacturing services.

At 3:30 pm, the shares of Dee Development were closed 13.15% higher at Rs 236.80 on NSE.

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