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Rajputana Stainless shares in focus after order win from Suzlon

The stainless-steel maker said Suzlon Energy awarded it a 2.10 MW wind project in Gujarat valued at ₹16.21 crore plus GST, to be completed within 11 months.

Reported · Written up by our desk · Emerging Markets

Rajputana Stainless shares are expected to stay in focus on Tuesday, September 8, after the company disclosed a new order from Suzlon Energy in a post-market filing on Monday, according to LiveMint Markets.

The contract covers setup of one Suzlon S120_140 wind turbine generator, rated at 2,100 kW, at the Jamjodhpur site in Gujarat. Rajputana Stainless said the order, awarded by a domestic entity, is valued at ₹16.21 crore plus GST per turbine generator and is to be executed within 11 months.

The company added the order does not involve any promoter or promoter group interest in the awarding entity and does not fall under related-party transactions. LiveMint Markets also noted the win is an early business development for the newly listed firm, whose shares debuted in March.

Rajputana Stainless listed its shares at ₹122 per share, and after Monday’s close of ₹186, the stock is trading 52% higher than its IPO price. The report said the stock is up about 84% from its low of ₹101, and it ended each of the last three months higher, including a 25% jump in August.

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