The stock jump also marks the third biggest intraday jump since the beginning of 2026.
Tega McNally Minerals, a wholly owned material subsidiary of the company, entered into a contract with an aggregate value of ₹126 crore with Kalpataru Projects International, according to the regulatory filing.
The contract covers the design, engineering, manufacture, inspection, transportation, supply, supervision of erection, testing, commissioning and performance guarantee demonstration for the project. It is expected to be executed over a period of 14 months.
The Kolkata-based company said last month that it expected to cut its net debt to around three times earnings before interest, taxes, depreciation and amortisation (EBITDA) over the next four to five years, supported by higher margins, business growth and the monetisation of non-core assets.
Managing Director and Group CEO Mehul Mohanka had then told CNBC-TV18 that the company’s ₹95 crore preferential issue was not aimed at materially reducing debt but signalled Apollo Global Management’s confidence in the Tega-Molycop combination.
In June, Tega Industries, in partnership with funds managed by affiliates of Apollo Global Management, acquired Molycop from an affiliate of American Industrial Partners in a deal valued at around $1.5 billion. The acquisition combined the two companies’ businesses across mining, mineral processing and material handling, with Molycop expected to contribute to earnings growth from FY27.
Shares of Tega Industries rose nearly 10% following the announcement on Monday and were trading at ₹2,128.80 as of 12.38 pm.
This also marked the third-largest intraday jump so far in 2026 as the shares continue their four-session winning streak. The stock had previously surged up to 11.77% in trade on Thursday, September 17.
Tega Industries shares have risen more than 7% year-to-date and over 6% in the last 12 months.
More than 21 lakh shares changed hands during Monday’s intraday trade, equivalent to 2.34 times the stock’s 10-day average volume.