JTL Industries Stock Surges 20% on PSTCL Transmission Tower Deal
Overview
JTL Industries secured a substantial order from Punjab State Transmission Corporation Limited (PSTCL) for 220kV transmission tower material and substation structures. The deal, scheduled for execution by FY 2025-26, drove JTL Industries shares to a 20% upper circuit on the NSE, closing at ₹61.89. This boosts the company's position in the critical power transmission infrastructure segment.
Stocks Mentioned
JTL Industries Surges 20% After Landing PSTCL Transmission Tower Order
JTL Industries announced on Monday it has secured a significant order from Punjab State Transmission Corporation Limited (PSTCL) for the manufacture, fabrication, and galvanisation of 220kV transmission tower material and substation structures. The contract is slated for execution within the fiscal year 2025-26.
Substantial Power Sector Order
This latest award from PSTCL reinforces JTL Industries' established presence within India's vital power transmission sector. The scope of work encompasses essential components for high-voltage grid projects, demonstrating the company's capability in delivering critical infrastructure. The order is a one-time deal and has been confirmed to involve no related party transactions, adhering to SEBI Listing Regulations.
Stock Market Reaction
Investor optimism surged following the announcement. JTL Industries shares experienced a dramatic rally on the National Stock Exchange (NSE), hitting the 20% upper circuit. The stock closed at ₹61.89, marking an increase of ₹10.31 per share, amid robust buying interest.
