Rishabh Instruments shares surge over 7% after its subsidiary bags Rs 50 crore contract with leading German energy company
Rishabh Instruments Limited (NSE: RISHABH) shares jumped over 7% in early trade after its wholly owned subsidiary, Lumel SA, signed a major contract with a prominent Germany-based energy company. The deal, valued at €5 million (~₹50 crore), marks a strategic milestone in Rishabh's international growth journey. As of 10:03 AM, the shares were trading 4.66% higter at Rs 314.15
The agreement involves the supply of advanced electronic devices crucial for industrial automation in the energy sector. Scheduled to run through the end of 2026, the contract also includes provisions for extension, depending on project performance and evolving requirements.
This collaboration is the result of months of joint development and engineering efforts between Lumel SA and its German counterpart. The devices being supplied are customized solutions designed to meet the high technical standards and operational demands of the European energy industry.
Rishabh Instruments, a global leader in energy efficiency and measurement solutions, views this deal as a significant step toward strengthening its European footprint. The partnership is expected to pave the way for wider adoption of Lumel's proprietary technologies across the continent.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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