Shares of Cosmic CRF, a leading manufacturer of railway components, surged by 5% on Friday, September 20, 2024, reaching the upper circuit limit of Rs 1,809.60 per share. This significant rise followed the announcement of a major order win by its subsidiary, N S Engineering Projects. The Rs 127.44-crore order from the infrastructure industry has boosted market confidence, sparking renewed interest to buy shares online.
N S Engineering secures major order
In a filing to the stock exchange, Cosmic CRF shared that its subsidiary, N S Engineering Projects, secured an order valued at Rs 12,744 lakhs (inclusive of GST). This order is for the supply of 18,000 MT of cold-formed steel sheet piles designed for infrastructure projects. The project includes Z-type and U-type sheet piles and is expected to be completed within 12 months. This recent win comes just a week after another significant order for 200 sets of CRF Sections-BOXNHL wagons, worth Rs 102.1 crore, which is expected to be delivered within eight months.
With these substantial contracts in hand, Cosmic CRF is solidifying its position as a key player in both the railway and infrastructure sectors. Investors looking to buy shares online may find this a promising time to invest, as the company's expanding order book signals strong future growth.
Market reaction and industry impact
The announcement led to a significant jump in Cosmic CRF's stock price, with shares trading 2.12% higher at Rs 1,760 per share during early trading. The company's market capitalisation now stands at Rs 1,442.85 crore, and its 52-week performance has been impressive, with a high of Rs 2,210 and a low of Rs 233.90 per share. As Cosmic CRF continues to secure new projects, interest in buying shares online is expected to rise, with investors keeping a close watch on the company's performance.
Key takeaways
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