Shares of RPP Infra surged up 5% on Tuesday to hit a new 52-week high of ₹71.15.
What Happened: The company on Monday evening announced bagging four new orders from different entities worth around ₹482.37 crore. The announcement helped the stock break its two-straight session losing streak.
The biggest order is from the Chennai Petroleum Corporation Limited, road and drain works-1 for the CBR project of CPCL at Nagapattinam, Tamilnadu. The project is to be completed in 12 months and is worth around ₹300 crore.
The company also has an order from Defence Research & Development Organization worth ₹90 crore. The order is for the provision of civil works and allied services for the engine test facility along with ancillary work for GRTE at Rajankute, Bengaluru.
The third order is from the Thoothukudi City Municipal Corporation. The ₹16 crore order is for the construction of a stormwater drain. The order is to be completed within 24 months.
The company also informed that a JV between RPP Infra Projects and Sun Construction received an order from the Tamilnadu Water Supply and Drainage Board. The ₹74 crore order is for the twad Board-Improvement of existing CWSS to Pudukkottai Municipality. RPP’s share of the JV is 51%.
Price Action: RPP Infra share price was locked in 5% upper circuit at ₹71.15 in the early hours of trading on Tuesday.
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