Up 280% in five years! Small-cap penny stock jumps 5% after THIS order update | Stock Market News
Source: Live Mint
Stock Market Today: Small-cap penny stock Nila lnfrastructures Ltd that has risen 280% in five years, gained 5% during the intraday trades on Tuesday after an order update
Nila Infrastructures order update
Nila lnfrastructures intimated the exchanges on Tuesday 25 March regarding Receipt of another Work Order for Slum Redevelopment
As per the press release Nila Infrastructures referring to its earlier announcement dated 05 September 2023, where Nila Infrastructires had been awarded a slum rehabilitation project popularly known as ‘Ramapir no Tekro’ for construction of 1694 Resldential flats.
ln connection to the same project, the Company i.e Nila lnfrastructures has on Tuesday 25 March 2025, received yet another Work Order for ‘Finishing Work’.
The order received by Nila lnfrastructures has been awarded by Shree lnfracon Private Limited
SIPL has awarded the ‘Finishing Work’ of the project to the Company for ₹63.52 Crore (Sixty-Three Crore and Fifty Two Lac Only).
While the time period for completion of project is 10 months however under the terms and condition aalso include 7 (seven) years of Operation & Maintenance Defect Liability of all Finishing Work of the building by NIla Infrastructures.
About the project award
The Work Order is for’ Finishing Work’ (including material and labour) in connection with the Slum Rehabilitation Project popularly known as ‘Ramapir no Tekro’ at Wadaj – Ahmedabad.
The project has originally been awarded by Ahmedabad Municipal Corporation (AMC) to SIPL under the Slum Rehabiliation and Redevelopment Policy 2013 pursuant to Pradhanmantri Awas Yojna.
Nila Infrastructures share price movement
Nila Infrastructures share price opened at 10.02 on the BSE on Tuesday. Nila Infrastructures share price at the the time of opening was trading 2% higher than the previous days closing price of ₹9.82. Nila Infrastructures share price thereafter gained further to intraday highs of ₹10.82, marking intraday gains of 10.01%
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
