In an exchange filing, the company said it has secured the ‘largest-ever single PEB order’ in the Indian PEB or Pre-Engineered Buildings industry. The value of the deal is pegged at over ₹300 crore. The plant is being set up for a tyre manufacturing company based in Gujarat.
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The upcoming tyre manufacturing facility will have an area of approximately 3 million Square Feet. The proposed plant is expected to be completed within the current financial year.
Post the order win, shares of Interarch Building Solutions surged as much as 5% to hit an intraday high of ₹1,818. The stock has doubled from its IPO price of ₹900.
Over the last one month, shares have delivered returns of 20% to shareholders but still remain below their post-listing high of ₹1,923.75.
With this move, the stock has recovered all the losses of the year, and are now trading with gains of 1% on a year-to-date basis.
