Starlite Components announced that the company in joint venture with Virtuoso OptoElectronics has bagged a contract of Rs 3.35 billion from the Directorate of Urban Local Bodies, for replacement of existing street lights with energy efficient LED street lights, installation of centralised control and monitoring system panel or smart lighting system along with operation and maintenance for a period of 10.5 years in the areas covered under Municipal Corporations, Councils and Committees within Hisar, Karnal and Sonepat districts, covering a total of 15 cities.

Shares of the company gained Rs 0.55, or 0.97%, to trade at  Rs 57.00.  The total volume of shares traded  was  2,090 at the BSE (9.34 a.m., Wednesday).