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RPP Infra up 5% as it bags Rs 217-cr road improvement work order in Jalgaon
Source: Business Standard
RPP Infra Projects shares were temporarily locked in 5 per cent upper circuit on the BSE, after logging an intraday high of Rs 195.85 per share. However, the stock soon pared gains and was up 4.53 per cent at Rs 195 per share at around 1:07 PM. In comparison, the BSE Sensex was down 0.37 per cent at 81,672.34, around the same time.
The buying in the stock came after the company secured an order worth Rs 217.61 crore for improvement works on a road between Kothore and Wakadi, in Jalgaon, Maharashtra. The order was received from the Chief Engineer, Konkan & Project Director, Mumbai.
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As per the company’s exchange filing, the project has to be completed in two years. With this order, the company’s order book stands at Rs 3,523.24 crore as of October 15, 2024.
Prior to this, the company had secured an order worth Rs 55.5 crore to provide 24×7 water supply to the pilot water zones of Avadi City Municipal Corporation, and improvement of the existing water supply distribution system for Avadi City Municipal Corporation, along with the left out areas including operating and maintenance of five years.
In July, the company had bagged new work orders worth Rs 310.93 crore from the office of the superintending engineer at PMGSY, PWD Meerut, for the construction of a new district jail at Hapur, UP, on engineering, procurement, and construction (EPC) basis. The order, worth a total of Rs 158.82 crore, is to be executed in the next 18 months.
RPP Infra Projects Limited is involved in various infrastructure development projects. The company primarily focuses on sectors such as roads, bridges, urban infrastructure, among others. The company often engages in government contracts and public-private partnerships, contributing to the development of infrastructure across different segments and regions in India.
It is also heavily involved in the construction and maintenance of national and state highways, including both rural and urban road networks, improving connectivity and accessibility.
RPP Infra also builds various types of bridges, which are critical for enhancing transportation links across regions.
In the past one year, RPP Infra shares have gained 137.4 per cent, compared to teh BSE Sensex’s rise of 23 per cent during the same period.
First Published: Oct 15 2024 | 2:07 PM IST
