Receipt of Letter of Intent from Transmission Corporation of Andhra Pradesh Limited
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Awaiting price reaction for this filing.
Josts Engineering Company has received a Letter of Intent (LOI) from Transmission Corporation of Andhra Pradesh Limited, a state government entity, for the supply of 21 units of 12KV Automatic Capacitance & Tan Delta test kits. The total order value is approximately Rs. 6.2 crore (Rs. 6,19,50,000). The order is to be executed within four months from the LOI date. The order has been awarded by a domestic entity and is not a related party transaction, with no promoter interest in the awarding party.
This is a positive development as it adds a new domestic order from a state PSU to the company's order book. However, given the modest size of the order, the immediate impact on stock price or fundamentals is likely limited unless it signals further orders from similar utilities.