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Pace Digitek Shares Surge After ₹488 Crore Order Win
Pace Digitek is a company whose shares are traded on the stock market.
The company announced that it had won a large order.
The order is worth ₹488.46 crore.
NTPC GE Power Services gave Pace Digitek a letter of award for the work.
A letter of award is an official document showing that a company has been selected for a contract.
After the announcement, Pace Digitek’s share price rose sharply.
On Tuesday, 22 September, the shares climbed as much as 13%.
They opened at ₹165.55 and later reached ₹174.90.
Pace Digitek shares surged as much as 13% in intraday trading on the BSE.
The rise occurred on Tuesday, 22 September, after the company announced the order win a day earlier.
Pace Digitek received a letter of award from NTPC GE Power Services.
The order is valued at ₹488.46 crore.
Shares opened at ₹165.55, compared with the previous close of ₹154.80, and reached ₹174.90.
- Who
- Pace Digitek and NTPC GE Power Services.
- What
- Pace Digitek received a ₹488.46 crore letter of award from NTPC GE Power Services, sending its shares higher.
- Where
- The share movement occurred in intraday trading on the BSE.
- When
- The order was announced a day before Tuesday, 22 September; the share rise occurred on 22 September.
- Why
- Investors reacted after Pace Digitek announced the contract award.
Key facts
- Company
- Pace Digitek
- Contract awarding entity
- NTPC GE Power Services
- Order value
- ₹488.46 crore
- Share rise
- As much as 13% intraday
- Opening price
- ₹165.55
- Previous close
- ₹154.80
- Intraday high
- ₹174.90
Sources
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