Stone India receives order for supply of 100 sets of Wagon Air Brake System from China

Stone India Ltd has announced that the Company has received an initial order for supply of 100 sets of Wagon Air Brake System to a renowned Chinese Wagon Builder. The order is valued at Rs 8.5 million. The Company has been able to procure this order competing against reputed European manufacturer of the product.

This wagon builder located in China is one of the internationally reputed wagon manufacturers & is not only a major supplier of wagons in China but has supplied wagons to countries like Australia, Asia, East Europe, Russia, Africa etc.

On successful completion of this order, the Company expects to closely work with this Wagon builder to become a major supplier for not only the conventional UIC Compliant Brake System but also its patented Beam Mounted Brake System.

The shares of the company were trading at Rs.146, up by Rs.3.10 (+2.17%) compared to its previous close of Rs.142.90.

Source : Equity Bulls

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