Harsha Engineers witnessed a 3% surge in its stock price following the announcement of a significant long-term agreement with a leading multinational bearing company. The deal, effective December 5, 2024, is for the supply of bearing cages, a crucial component in industrial and automotive bearings.
Under the agreement, Harsha Engineers will manufacture and supply bearing cage products for an initial period of six years. The deal has an estimated value of €6 million to €10 million annually. With the multinational company being a key player in the bearing industry, this contract is set to drive recurring revenue for Harsha Engineers, further cementing its position in both domestic and international markets.
The deal reflects strong growth potential, with the company’s ability to deliver high-quality products meeting the rigorous demands of global industries.
Harsha Engineers’ stock performance showcases notable volatility, with an opening price of ₹553.00, a high of ₹560.00, and a low of ₹545.30. Over the past 52 weeks, the stock reached a peak of ₹613.85 and a low of ₹360.10.
As of 9:35 am, Harsha Engineers shares were trading 2.84% higher at Rs 552.40 on the NSE.
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