Manaksia Coated Metals & Industries (NSE:MANAKCOAT, BOM:539046) has bagged a new order worth $24 million from an undisclosed European client, according to a filing to the stock exchanges on Monday.
The contract is for the supply of 20,000 metric tonnes of pre-painted steel coils, Alu Zinc-coated steel coils, and galvanized steel products over the next 12 months.
Apart from providing a steady revenue, the new order will help the company to fully utilize the additional capacity expected from its Continuous Galvanizing Line (CGL) upgrades.
The upgrades are scheduled to be completed in the fourth quarter of the financial year 2025.
Shares of the company jumped over 4% in recent trade.
Price (INR): â¹69.22, Change: â¹+2.9, Percent Change: +4.36%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.