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Lloyd Electric advances on bagging order worth $18 million from GE Transportation

20 Sep 2016

Lloyd Electric & Engineering is currently trading at Rs. 276.65, up by 2.95 points or 1.08% from its previous closing of Rs. 273.70 on the BSE.

The scrip opened at Rs. 278.10 and has touched a high and low of Rs. 282.70 and Rs. 276.65 respectively. So far 1,03,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 328.80 on 21-Dec-2015 and a 52 week low of Rs. 175.90 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 282.70 and Rs. 242.00 respectively. The current market cap of the company is Rs. 1,002.16 crore.

The promoters holding in the company stood at 51.22%, while Institutions and Non-Institutions held 9.71% and 39.07% respectively.

Lloyd Electric & Engineering has bagged order worth $18 million from GE Transportation to supply custom designed air-conditioning units for the Indian Railways Marhowra Locomotive project. The contract is to design, manufacture, test and supply air-conditioning units to be manufactured in Lloyd's factory in Bhiwadi, Rajasthan over a period of 11 years. Design of the equipment will be a collaborative effort within the Lloyd group of companies and led by Lloyd's recently acquired subsidiary Noske-Kaeser Rail & Vehicle New Zealand, based in Palmerston North, New Zealand.

This project is a significant win for Lloyd Electric & Engineering and builds on existing business between GE Transportation and Noske-Kaeser Rail & Vehicle New Zealand. The air-conditioning units to be manufactured by Lloyd are to provide driver comfort for 1000 diesel locomotives to be manufactured in a new plant being built by GE Transportation in Marhowa, Bihar. This project advances the 'Make in India' initiative and reinforces India's position as a global manufacturing destination.

Lloyd Electric & Engineering manufactures air conditioner, coils, radiators (heat exchanger) and light emitting diode (LED) televisions (TVs). The company's operating segments include Radiators & Heat Exchanger, OEM & Railways and Consumer Durable Product.

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