Dynamic Cables shares gain 10% today: Two factors behind the rally  

Shares of Dynamic Cables rose over 10% on Monday after the firm said it has received UL Certification for cables covered in UL 854 standard from UL Solutions. The firm also confirmed Power Grid Corporation of India's nod for the manufacturing & supply of ACSR & AL59 (upto 61 strands) conductors for its manufacturing plants.

Dynamic Cables stock rose 10.36% to Rs 364.75 in he current session against the previous close of Rs 330.50. Market cap of the firm rose to Rs 1,680.79 crore. 

"We would like to inform you that the Company has received the UL Certification for Cables covered in UL 854 standard from UL Solutions. This UL approval will enable the Company to supply Cables covered in UL 854 standard in the United States market and other ULregulated international markets. This certification is expected to strengthen the Company's export capabilities and enhance acceptance of its cable products in international markets," said Dynamic Cables. 

With reference to the approval from PowerGrid, the firm said, "The Company has received approval from Power Grid Corporation of India Limited for the manufacturing & supply of ACSR & AL59 (upto 61 strands) conductors for its manufacturing plants. This approval establishes the Company's manufacturing plant as technically suitable for the production and supply of ACSR & AL59 (upto 61 strands) conductors for Power grid projects." 

"The approval is expected to enhance the company's eligibility for participation in future Power grid projects and may support additional business development opportunities," added Dynamic Cables.  

Dynamic Cables is engaged in the business of manufacturing and supply of high-quality cables and conductors, serving clients across India and in numerous countries worldwide.