TD Power Systems Ltd shares spurted in the stock exchanges today on reports that the company had struck a deal with Siemens AG for technology transfer.
The scrip spurted 14.73 per cent or Rs 38 to Rs 296 on the BSE today with about 42,700 shares being traded. On the NSE, the scrip jumped to Rs 297.35, a gain of Rs 29.80 or 11.14 per cent.
Since January 25, 2012, when it hit its 52-week low of Rs 201.25, the scrip has gained nearly 50 per cent. Its current price is just about 10 per cent lower than its 52-week high of Rs 321.45 (on September 14, 2011) on the NSE.
Under this long-term licence agreement, TD Power would receive the knowhow from Siemens for the manufacture of industrial, air-cooled, 2-pole AC generators in the range of 74 MVA to 250 MVA in India.
The generators would be produced at its facility in Dabaspet Industrial Area near Bangalore and commercial production would begin within two years.
The company has already been manufacturing smaller capacity generators under licence from Siemens for the past four years. It has agreements with many international power equipment producers and has been sourcing technologies for producing generators.
TD Power’s in-house product development team worked with its partners in developing new products at lesser cost, improving quality and design, the company said in a statement to the stock exchanges.
TD Power is a manufacturer of AC generators and executes captive and independent power projects,