Shares of Quadrant Future Tek Ltd surged 5% to touch a day’s high of Rs 318.60 on 29th January. This came after the company said it has received a Rs 230.42 crore contract from Integral Coach Factory, Chennai (ICF). The contract is for the supply, retrofitment, testing, and commissioning of 192 onboard KAVACH Equipment Version 4.0.

Quadrant Future Tek said the contract also covers warranty support and long-term annual maintenance of the equipment. A domestic entity has awarded the order and will be executed over 12 months.

Quadrant Future Tek is a research-focused company developing next-generation train control and signalling systems under the Indian Railways’ KAVACH project. This project is designed to improve safety and reliability for rail passengers.

In addition to signalling solutions, the company operates a specialised cable manufacturing facility with an in-house Electron Beam Irradiation Centre. Its speciality cables are used in railway rolling stock and the naval defence segment. Furthermore, the facility has end-to-end infrastructure to manufacture solar and electric vehicle (EV) cables.

At 1:38 PM, shares of Quadrant Future Tek were trading 3.22% higher at Rs 312.85 on NSE.

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