The order covers the supply of about 1,900 MT of critical piping for two large power projects.
According to the company, 90% of the payment will be cleared within 90 days from site acknowledgement and acceptance of materials, while the balance 10% will be released within 90 days of purchase order completion.
Execution timelines vary across projects, with Project 1 (Unit 1) scheduled for completion in 12 months, Project 1 (Unit 2) in 15 months, and Project 2 (Unit 1) in 9 months.
Piping for FN assembly is also expected to be completed within 9 months. The contract is classified as international in nature.
Also Read: Reliance Industries shares rise after Morgan Stanley says AI, new energy are key growth drivers
Following the announcement, shares of DEE Development Engineers rose hitting an intraday high of ₹281.80. At 2:04 PM, the stock was trading at ₹276.05 on the NSE, up ₹8.25 or 3.08%.
