Stock Market Today: BSE SME stock Quest Flow Controls gained more than 9% during the intraday trade on Monday, August 25, following a ₹23 crore order win from the defence public sector undertaking (PSU) Garden Reach Shipbuilders (GRSE).
Quest Flow Controls—Order book updates
Quest Flow Controls today announced receiving an order from a prestigious company, Garden Reach Shipbuilders. As per the terms and conditions for the order, Quest Flow Controls will supply valves and spares to the defence PSU company.
The value of the order for the supply of valves and spares to the SME stock is ₹23.55 crore ( ₹23,55,90,931.85), including GST (goods and services tax).
Quest Flow Controls, in its intimation to the BSE, said,“We hereby inform you that a purchase order received from the prestigious client M/s. Garden Reach Shipbuilders & Engineers (A govt. of India undertaking) for supply of valves & spares.”
Quest Flow Controls further said that the order from Garden Reach Shipbuilders & Engineers has to be completed in three months.
Quest Flow Controls’ share price movement
Quest Flow Controls’ share price opened at ₹288 on the BSE on Monday. At the time of opening, Quest Flow Controls’ share price was slightly lower compared to Friday’s closing price of ₹294.30. Quest Flow Controls’ share price, thereafter, gained momentum and touched an intraday high of ₹321.80, which meant gains of more than 9% during the intraday trades on Monday.
However, despite gains today, the BSE SME stock has lost 68% in the last one year, while it is down 43% on a year-to-date (YTD) basis. The stock, while up 6% for the week, has been down 20% for a month.
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