India's Marine Electricals rises on multiple order win
BUZZ-India's Marine Electricals rises on multiple order win ** Shares of Marine Electricals (India) MARN.NS rise 6.4% to 426.3 rupees
** The technical service provider gets orders worth 3.99 billion rupees ($42.1 million) from Princeton Digital Group and Classic Electric
** Company also received an order worth 2.30 billion rupees from Digital Edge DC
** All order for supply of power distribution systems
** ICICI Direct Research says order win strengthens Marine Electricals' order pipeline
** Brokerage says repeated orders from Princeton Digital Group (India) for power distribution systems provides revenue visibility particularly on data-centre power infrastructure
** About 2.7 million shares traded, 2.3x their 30-day moving avg
** Stock nearly doubled on YTD basis
($1 = 94.8175 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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