Skipper’s stocks saw a significant surge of 13 percent and reached an all-time peak during early trading on February 26 following the company’s securing of a contract worth Rs 737 crore with the Power Grid Corporation of India.
The contract entails Skipper’s responsibility for the design, supply, and construction of a 765 kV transmission line project. By 10:40 am, Skipper’s shares were trading at Rs 372.75, marking a 5.4 percent increase on the National Stock Exchange (NSE). Earlier in the session, the shares peaked at an unprecedented value of Rs 401.
Sharan Bansal, Skipper’s director, expressed satisfaction, stating, “We are delighted to announce our latest accomplishment in the field of power transmission and distribution. This contract further bolsters our positive outlook on the sector. The consistent inflow of orders from PGCIL has significantly fortified our order book within India’s Transmission and Distribution (T&D) sector.”