In early trade on January 29, Oriental Rail Infrastructure’s share price experienced a 3% increase following the company’s successful bid for orders to manufacture and supply BOXNHL wagons and brake vans from THDC India Limited.
Oriental Foundry Private Limited, a wholly owned subsidiary of Oriental Rail Infrastructure, clinched the contract for the production and delivery of BOXNHL wagons and brake vans. THDC India Limited, a Central Public Sector Undertaking (PSU) under the ownership of the National Thermal Power Corporation Limited (NTPC), Ministry of Power, and the Indian Railways, is the client for this venture.
As of 9:43 am the shares were trading 2.53% higher at ₹251.60 on NSE
In terms of payment, approximately 90% of the contract price (excluding GST) for each individual rake will be disbursed upon receipt of the rake at the site. This payment will be made as a progressive pro-rata payment after a joint inspection by both the owner and the contractor, certifying that the rakes have been delivered in good condition as specified in the contract. The successful acquisition of these orders has contributed to the positive market response towards Oriental Rail Infrastructure.
