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Alstom gains on new contract worth Euro 30 mn

Alstom India, leader in power generation, power transmission and rail infrastructure, gained on Tuesday after it has been awarded a contract worth around Euro 30 million to equip the 2 x 89.3 MW Shuakhevi Hydropower plant located in Georgia. Alstom’s share of the contract is worth around Euro 20 million Euros.

The aim of the project is to supply Georgia as well as Turkey with clean renewable energy to meet the peak electricity demand during winter.

Shares of the company are trading at Rs 323, up Rs 3.2, or 1% at the Bombay Stock Exchange (BSE) on Tuesday at 11:04 a.m.

The scrip has touched an intra-day high of Rs 328.60 and low of Rs 321. The total volume of shares traded at the BSE is 893.

In the earlier session, the shares fell 0.03%, or Rs 0.09, at Rs 319.80. Currently, the stock is trading down 20.83% from its 52-week high of Rs 408 and above 13.33% over the 52-week low of Rs 285.

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