Shares of Dee Development Engineers Ltd rallied 4% on 4 April after the company announced securing an order worth Rs 55 crore. 

In its regulatory filing, the company said, “We would like to inform you that the company has bagged a purchase order from a new customer, the name of which cannot be disclosed due to commercial issue.”

The scope of the order entails supplying pre-fabricated carbon, alloy and stainless-steel piping items for a thermal power station, which has to be executed in a period of 7-12 months. 

Dee Development Engineers made a stellar entry into the stock market on 26 June 2024, with its shares listing at Rs 339 on the National Stock Exchange (NSE), which is a notable 67% jump over the issue price of Rs 203.

Established in 1988, the company is a specialised engineering firm offering end-to-end process piping solutions to sectors like oil and gas, power (including nuclear), chemicals, and other process industries. Its services span engineering, procurement, and manufacturing.

Dee Development Engineers produces and delivers a wide array of piping products, including high-pressure piping systems, piping spools, high-frequency induction pipe bends, longitudinally submerged arc welding pipes, industrial fittings, pressure vessels, stacks, modular skids, and custom-built components like boiler superheater coils and de-superheaters.

At 11:37 pm, the shares of Dee Development shed all their early gains and were trading 0.83% lower at Rs 253.05 on NSE.

Curious About Dee Development Engineers Ltd? Ask the Analyst.

Feeling overwhelmed by the markets? Let Unicorn Signals be your guide. Our user-friendly app simplifies complex data and provides actionable trading signals. Download the app today and trade with confidence!