(Yicai Global) April 18 -- Shares of Chinese photovoltaic cell production equipment maker Maxwell Technologies jumped after the firm said it has received a big order from Indian conglomerate Reliance Industries.

Maxwell's stock price [SHE: 300751] soared as much as 13 percent to CNY325.56 (USD51.10) intraday. The shares hit an all-time high of CNY501.33 last September.

The Chinese precision equipment manufacturer will provide Reliance with eight high-efficiency solar cell production lines, equalling an annual capacity of 4.8 gigawatts, the Suzhou-based company said in a statement yesterday.

Mumbai-based Reliance, a major petrochemical company in India, ranked No. 155 on the 2021 Fortune Global 500 list.

The deal is major for the supplier. The long-term agreement is expected to be valued between 50 percent and 100 percent of Maxwell's audited revenue in 2021, according to the announcement.

Last year, Maxwell reported CNY3.1 billion (USD486 million) in revenue, up 35 percent from 2020, according to its earnings report. Its net profit surged by 63 percent to CNY643 million (USD100.9 million), caused by a steady increase in solar cell production line sales.

Editor: Emmi Laine, Xiao Yi