Shares of Dee Development Engineers Ltd. gained 10% on Friday, February 20, after the company won an order worth $40 million for the supply of HRSG piping for 16 units from an international entity.The company, in an exchange filing, said it secured the Letter of Intent from one of the largest international OEM conglomerates in the power sector with its headquarters in the US. It added that it cannot disclose the name of the customer due to a commercial issue.
DEE Development said the letter of intent is valid till February 18. 2027.
Last month, the company’s board of directors approved a change in the top finance leadership by accepting the resignation of chief financial officer (CFO) Sameer Agarwal and appointing Brham Prakash Yadav as the new CFO.
Shares of DEE Development gained 10.3% to hit an intraday high of 230.9 apiece on Friday. The stock was up 7.5% at 225.05 apiece around 2.10 pm. It has gained 19% in the past month but has declined 20.1% in the last six months.
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