Quality Power Electrical Equipments Limited shares jumped nearly 5% on Wednesday announced that it has received a purchase order worth approximately Rs 11.5 crore for the supply of reactors for a STATCOM project. The order has been placed by a domestic entity, though the client’s name was not disclosed owing to a non-disclosure agreement.
The company said the order has been classified as a single large order and is expected to be executed within 12 months. According to the disclosure under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements (LODR), 2015, the supply will specifically involve reactors for the STATCOM project, a technology aimed at enhancing grid stability and improving power quality.
As of 9:26 am the shares were trading 4.79% higher at ₹980.75
