Good Luck Steel Tubes Ltd, an engineering product manufacturing conglomerate, has received an order worth Rs 67 crores for supply of Transmission Line Towers in the state of Uttranchal.

This is a significant development for the Company, as company is expanding its structure vertical with a capex of Rs 30 crores in current Financial Year, the company said in a filing to the Bombay Stock Exchange.

The Execution is likely to start from 4th quarter of FY16

According to the filing, the expanded capacity will be utilized to cater the expanding order book of Transmission & Distribution (T&D) sector.

Commenting on the development, Good Luck Steel Tubes, Chairman, M C Garg said, "Transmission & Distribution Sector is envisaging an investment of Rs. 1.25 Lacs crore in next 5 years as per Industry estimates & we hope that this boom in T & D will translate into fat order books for the Company. Government initiative to achieve 175 gigawatt by 2022 in solar sector augurs well for Good Luck which is likely to achieve 200 MW solar structure solutions from FY17."

Meanwhile, shares of the company closed trading at Rs 91.40 apiece, down 0.44 per cent from the previous close on BSE.