Shares of Desco Infratech Ltd jumped nearly 3% to ₹258.95 in early trade on Monday, May 13, after the company announced the receipt of fresh orders worth ₹44.77 crore. The stock had closed at ₹252.00 in the previous session and touched a high of ₹263.00 during the day.
In a filing with the Bombay Stock Exchange (BSE), the company said it has secured new orders from Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Torrent Gas Limited. The contracts are related to city gas distribution (CGD) services and include last-mile connectivity (LMC), direct marketing activities (DMA), and other associated works in Andhra Pradesh, Telangana, and Tamil Nadu.
These orders, Desco highlighted, are not related party transactions and have no promoter interest. More significantly, the ₹44.77 crore order value accounts for approximately 64% of the company’s FY25 revenue (excluding GST), signifying strong growth momentum in its operational portfolio.
Desco reaffirmed its commitment to timely and high-quality project execution, aligning its efforts with India’s broader energy and infrastructure development goals.
At the current price, Desco Infratech’s market capitalisation stands at ₹1.99 billion, with the stock trading close to its 52-week high of ₹265.00.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or Business Upturn is not liable for any losses arising from the use of this information.
