Elgi Equipments (Q, N,C,F)* (EEL) has secured orders worth Rs 67 million from the Indian Navy for replacement of Russian compressors fitted on board mine counter measure vessels (MCMVs), reports Business Line.
Elgi is a Coimbatore-based integrated air compressor manufacturer. Air-cooled compressors in non-magnetic construction (70%) will replace the existing water-cooled technology of Russian origin that has complex mixed cooling system in the MCMVs.
The Indian Navy that has 12 MCMVs in its fleet found it difficult to get support for the existing Russian origin machines. The contract has been awarded to EEL on the basis of proven trial for a period of one year.
The shares of the company closed at Rs 57.30, up Rs 0.05, or 0.09% at the BSE. Total volumes of shares traded were 18,978. (Monday)
Tuesday, February 06, 2007
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