Expanding its services at a faster rate, Stone India signed two Memorandums of Understanding (MoUs) on a similar day, the company said in two separate filings to the regulatory exchange.

Of the two, the first order was signed with Voith Turbo Scharfenberg GmbH & Co, KG, and Germany for Indian Railways Coupler business.

“Stone India Ltd has informed that the Company has recently executed a Memorandum of Understanding with Voith Turbo Scharfenberg GmbH & Co, KG, Germany for Indian Railways Coupler business,” said the company in a filing to Bombay Stock Exchange on November 5, 2011.

Meanwhile, the company signed the other MoU with MELECS MWW GmbH & Co. KG, Austria for manufacturing and supply of light weight pantograph for Metro Coaches in India.

“Stone India Ltd has informed that the Company has recently executed a Memorandum of Understanding with MELECS MWW GmbH & Co. KG, Austria for manufacturing and supply of light weight pantograph for Metro Coaches in India,” said another filing to BSE on the similar day.

Buoyed by the development, shares of the company zoomed by 9.43 per cent to trade at Rs 29 per piece at 15.16 hrs on BSE.

Stone India is a multi-product engineering company located in Kolkata, has been serving the Indian rail road industry for over seven decades.