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HEG Advanced Materials Rises After ₹217.56 Crore Indus Towers Order
HEG Advanced Materials’ share price rose during Monday’s trading session.
Its subsidiary, Replus Engitech, received a new order from Indus Towers.
The order is for supplying lithium-ion battery banks.
It is worth ₹217.56 crore, including GST.
The work is supposed to be completed by March 31, 2027.
The company’s stock reached its 5% upper circuit before giving up some gains.
HEG Advanced Materials was created after HEG Ltd split its businesses.
Its businesses now include advanced materials, battery energy solutions, green power and Bhilwara Energy.
HEG Advanced Materials shares opened at ₹243.85, versus a previous close of ₹237.05.
The stock reached a 5% upper circuit at ₹248.90 before paring gains to trade more than 2% higher.
Subsidiary Replus Engitech received an order from Indus Towers to supply lithium-ion battery banks.
The order is worth ₹217.56 crore, including goods and services tax.
Delivery is scheduled by March 31, 2027, unless both parties mutually agree to an extension.
- Who
- HEG Advanced Materials, its subsidiary Replus Engitech, and Indus Towers.
- What
- Replus Engitech received a ₹217.56 crore order to supply lithium-ion battery banks.
- Where
- The order was disclosed in a stock-exchange filing in India.
- When
- The order was announced during Monday’s trading session; completion is scheduled by March 31, 2027.
- Why
- The share price rose after the company announced the new Indus Towers order.
Key facts
- Share opening price
- ₹243.85 per share
- Previous closing price
- ₹237.05 per share
- Intraday high
- ₹248.90
- Order value
- ₹217.56 crore, including GST
- Customer
- Indus Towers Limited
- Supplier
- Replus Engitech Private Limited
- Completion deadline
- March 31, 2027, subject to a mutually agreed extension
- Demerger status
- HEG Ltd was renamed HEG Advanced Materials Ltd, while the demerged entity was named HEG Graphite Ltd
Quotes
HEG Advanced Materials
The company making the disclosure in its exchange filing
“We wish to inform you that Replus Engitech Private Limited, a subsidiary of the Company, has received orders from Indus Towers Limited (formerly Bharti Infratel Limited) for the supply of Lithium-Ion Battery Banks”
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Sources
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