Airfloa Rail Technology shares hit a day high of Rs 568 on 13 October, after the firm won a Rs 34.85 crore Vande Bharat Sleeper design order.

The railway engineering company told exchanges after market hours on 12 October that Integral Coach Factory (ICF) in Chennai had given it the work.

The job has two parts. Airfloa will design the interiors of one Vande Bharat Sleeper trainset, and it will build one mock-up.

A mock-up is a sample model that shows how a design looks and works before real coaches get made.

Airfloa does not carry this alone. It leads a consortium formed with BLUE Engineering S.r.l., an Italian firm.

The contract is worth Rs 34.85 crore including GST. The team has 12 months to finish, counted from the date of the formal acceptance letter.

ICF is a domestic buyer. The company said neither its promoters nor its group firms have any interest in the awarding body, so the order is not a related party deal.

Last week brought another update. On 10 October, Airfloa signed an MoU with KTK Group Co. Ltd to chase platform screen door projects in India.

These are the full-height barriers that line station platforms and open with the train doors.

Under that plan, Airfloa would manage projects, install the systems, test them and bring them into service. It also plans a made-in-India programme for some of the parts.

The stock has climbed in recent months. Sources reported that it jumped 47% in August, its biggest monthly gain since listing.

At 11:49 am on 13 October, Airfloa traded at Rs 554.40 on BSE, down Rs 2.10 or 0.38% from the previous close of Rs 556.50.

The stock opened at Rs 563 and touched a low of Rs 550.25 during the session. Its 52-week range runs from Rs 246 to Rs 593.85.

Tired of guessing stocks to trade in daily? Tradz by EquityPandit empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Tradz by EquityPandit app today and take control of your investments!