Alstom India has spurted up strongly into the green, up 3% at Rs.360, with an intra day high at Rs.363.90. Volumes are up over one time.

The stock is reacting to the news it announced yesterday after market closing hours – it has won a contract worth Rs.679 crore from PSU BHEL, for supply of two supercritical boilers for a super thermal power project in Odisha. This project is part of NTPC's bulk 800 MW tender. And of this Rs.679 crore, Alstom India's scope of work is Rs.380 crore.

Under the scope of the contract, Alstom, the sole licensor for Bhel supercritical technology, will design the 800 MW supercritical boilers and supply identified pressure parts along with windboxes, pulverizers and airpreheater components. The company will also assist Bhel with technical advisors during the erection and commissioning of the units. Key components will be manufactured in Alstom's facilities in Concordia and Wellsville, USA, as well as in Durgapur and Shahabad, India. The units are expected to be commissioned starting in 2017.