Transrail Lighting shares hit an intraday high of Rs 485.50 on Oct 14 after bagging new domestic and overseas orders worth Rs 408 cr.

The trigger came in a press release from Transrail Lighting Ltd on 14 October. The bulk of the Rs 408 crore comes from one job, a brand-new substation in the MENA region, short for the Middle East and North Africa. Several domestic orders make up the rest.

A substation is where electricity is stepped up or down before it travels on to homes and factories.

This one is a gas-insulated type, which packs the equipment into a compact sealed unit. Transrail will handle design, equipment buying and construction.

The company said it received the orders in the normal course of business.

Managing Director and CEO Randeep Narang said the firm has gathered orders worth Rs 1,394 crore over the past fortnight. That takes its order intake for the year so far to Rs 2,429 crore.

That fortnight also included Rs 412 crore of orders on 6 October, mostly for swapping old power-line wires in India for higher-capacity ones.

On 30 September, the company bagged Rs 574 crore of orders and announced plans to expand tower-making capacity at Silvassa by 12,000 tonnes a year.

Transrail builds power transmission lines and substations, and it makes its own towers and power-line wires.

The shares closed at Rs 481.70 on NSE, up by Rs 20.05 or 4.34%. About 12 lakh shares changed hands, worth Rs 57.46 crore. The Nifty 50 ended 0.44% lower.

The stock is still down about 34.52% over the past year. Its 52-week range runs from Rs 400.65 to Rs 759.45, and its market value is about Rs 6,467 crore.

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