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Shares of Sanghvi Movers Ltd. closed 7.5 percent higher on Monday after the company announced that it had bagged its single largest order worth Rs 35 crore.

The company has received the from a renewable wind energy independent power producer (IPP).

As per the details of the order, the company will deploy various capacity cranes for a duration of 12 months.

Sanghvi Movers Ltd. is the largest crane rental company in Asia, and the sixth-largest in the world, as ranked by International Cranes (June 2022).

For the September quarter, the Pune-headquartered company reported a net profit of Rs 28.9 crore from a Rs 4.5 crore net profit in September 2021. Revenue also saw an increase of over 60 percent year-on-year to Rs 77 crore.

Shares of Sanghvi Movers ended 7.5 percent higher at Rs 313.40. The stock has gained close to 30 percent this year, with most of the gains coming during the last two months.