Delton Cables Scores Big! Lands Lucrative Rs 177.83 Crore Contract

Delton Cables has surged in trading, currently standing at Rs. 427.00, marking a notable gain of 20.15 points or 4.95% from its previous closing of Rs. 406.85 on the BSE. The scrip commenced its trading journey at Rs. 414.50 and has since reached highs and lows of Rs. 427.15 and Rs. 386.55, respectively. Trading activity has seen 8592 shares change hands on the counter.

As a BSE group 'XT' stock with a face value of Rs. 10, Delton Cables has experienced a 52-week high of Rs. 492.95 on 27-Feb-2024 and a 52-week low of Rs. 69.90 on 19-Jun-2023.

Over the past week, the scrip has seen its highs and lows at Rs. 427.15 and Rs. 386.55, respectively. The current market capitalization of the company stands at Rs. 368.93 crore.

Ownership-wise, the promoters hold 73.58% of the company's shares, with institutional investors and non-institutional entities holding 0.02% and 26.39%, respectively.

Delton Cables has bagged a significant order worth Rs. 177.83 crore from Top EPC Companies under the Revamped Distribution Sector Scheme (RDSS Scheme) for the supply of power cables. The order is slated to be executed within a span of 2 years.

Specializing in Total Telecom Solution Products ranging from Conventional Telecom Cables to Microwave Accessories and beyond, Delton Cables exhibits expertise in cable technology, catering to a spectrum of applications including measurement, control, communication, and power distribution in sectors such as exploration, refining, gas processing, petrochemicals, chemicals, and power generation.

News by Rahul Yelligetti