TD Power Systems has received an order from a large European multinational company (MNC) in India for manufacture & supply of certain components (Product) of traction motors used in Electric Locomotives to be supplied to Indian Railways by the MNC. The total order value is about Rs 7.50 billion to be supplied over 10 years starting from 2018.

The MNC will also provide the required technology for manufacture of the Product under License through its Affiliate Company. With this contract, the company affirms its position as a growing market player in the traction equipment business.

Shares of the company gained Rs 3.2, or 1.35%, to trade at Rs 239.40. The total volume of shares traded was 155,472 at the BSE (10.13 a.m., Wednesday).