Marine Electricals jumped 9% to a day high of Rs 426 on Oct 27 after winning power system orders valued at Rs 362.34 crore.

According to an NSE regulatory disclosure submitted at 11:36 am, Marine Electricals (India) Limited confirmed that the combined pre-tax value of the contracts stands at approximately Rs 362.34 crore. Two customers are involved.

Princeton Digital Group (India) Management Private Limited has placed an order for a power distribution system, and the equipment is due over 12 to 15 months.

DXDC Chennai Private Limited has given a letter of intent for the same kind of system, with delivery expected in just 4 to 5 months.

A power distribution system is the equipment that takes electricity from the main supply and sends it safely to the parts of a plant or building that need it.

A letter of intent serves as a formal written document indicating a client’s commitment to move forward with a purchase or contract.

Promoters have no interest in either contract. Neither deal is a related-party transaction. This is not the company’s first win this month.

On 5 October, it reported orders worth Rs 393.52 crore before taxes, with customers including Web Werks, CtrlS Datacenters, Garden Reach Shipbuilders & Engineers and Navayuga Engineering Company.

Put together, the two announcements come to about Rs 756 crore in just over three weeks.

The board of directors is scheduled to convene on November 4 to review and approve the quarterly financial statements.

At 14:46 pm, Marine Electricals stock was trading at Rs 420.85 on the NSE, reflecting an increase of Rs 32.75, or 8.44%, from its previous closing price of Rs 388.10.

It’s up almost 99% so far this year, though still below its 52-week high of Rs 490.85 hit on 7 October, and the company’s market value is near Rs 5,880 crore.

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