Highest-Ever Volume Recorded: This Multibagger Engineering Stock Jumps 8% After Winning Rs 33 Crore Contract From Global Power Management Company

On Thursday, Indian benchmark indices traded higher, with the Nifty 50 rising 84.65 points, or 0.35 per cent, to 24,106.30. Despite the broader market's modest gains, Onward Technologies' share price jumped 7.51 per cent to Rs 288.55 during the session.

The stock opened at Rs 272, touched an Intraday high of Rs 310.90, hit a low of Rs 268.05, and was trading at Rs 287.30 at the time of writing. Trading activity remained robust, with 9.23 million shares changing hands, compared with the 20-day average volume of 0.52 million shares, indicating volume of nearly 18 times the recent average.

Onward Technologies Bags Rs 33 Crore Engineering Services Contract

Onward Technologies has secured an engineering services contract worth approximately Rs 33 crore from a leading global power management company. The contract will be executed over three years.

Under the agreement, the company will establish a Dedicated Offshore Development Centre (ODC) to provide engineering research and development services. The dedicated R&D centre will support the client's Data Center business unit, enabling faster product development and engineering execution.

Strengthens Presence In Engineering R&D

The latest contract further strengthens Onward Technologies' position in the Engineering Research & Development (ER&D) segment. The company continues to focus on providing digital engineering, embedded systems, mechanical engineering and software solutions to global clients across automotive, industrial equipment, healthcare, transportation, mobility and energy sectors.

The company stated that the contract has been awarded by a domestic entity, does not involve any related-party transaction, and neither the promoter nor the promoter group has any interest in the customer awarding the project.
Also Read - Rs 10,166 Crore Order Book: Navratna PSU Secures Rs 29,83,50,503 Order From Andhra Pradesh Power Utility

About Onward Technologies

Onward Technologies Ltd is a leading digital engineering and technology solutions company offering Engineering Research & Development (ER&D) services to global enterprises. The company specialises in mechanical engineering, embedded electronics, digital transformation, cloud, data analytics and software development solutions across multiple industries.

Headquartered in Mumbai, Onward Technologies serves customers through delivery centres in India and an international presence across North America, Europe and Canada. The company works with several global OEMs and industrial enterprises, helping them accelerate product innovation, engineering efficiency and digital transformation.

What are your views on Onward Technologies' latest engineering contract win? Share your thoughts in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.