Shares of Artefact Projects surged up 5% on Thursday to hit upper circuit at ₹52.50.
What Happened: The surge comes today as the company announced bagging three orders from the National Highway Authority of India. The combined deal value for the three order is ₹14.7 crore.
The first order is for the independent engineer (IE) services for the operation and maintenance stage and construction work for four laning of the Bhavnagar-Talaja section in the state of Gujarat. The cost of this project is ₹3.36 crore, and is to be completed in three years.
The second project is for the consultancy Services for the authority engineer for supervision of the construction of a four-lane access-controlled highway from Samarlakota to Achampeta Junction as a part of Kakinada port under Bharatmala Pariyojana. The order is worth around ₹5.76 crore and has a timeline of seven years.
The last order is for the independent engineer services for the operation and maintenance of NH-26 in the state of Uttar Pradesh and Madhya Pradesh under the north-south corridor (NHDP Phase-II). The timeline for the project is 60 months, and the value of the contract is ₹5.61 crore.
Get Ring The Bell, Benzinga India’s weekly briefing. Designed specifically for investors like you.
Price Action: Artefact Project’s share price was up 4% to trade at ₹52 in early trade on Thursday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.