Micro Cap Railway Stock Jumps 3.5% After Winning ₹1.6 Cr Contract

Shares of BPCL Railway Infrastructure jumped up over 3.5% to hit an intraday high of ₹66.

What Happened: The company on Monday announced bagging an order from the Eastern Railway, Electrical Division, Sealdah. The electrification project has been received for the work of “25 kilovolt PSI and allied electrical works in connection with Sonarpur-Lakshmikantapur-Rehabilitation of Control & Relay Panels with the provision of latest numerical type Relays of Sealdah South Section".

See Also: Why Tata Motors Shares Are Climbing Today

The total project cost comprises ₹1.60 crore and it is expected to be executed over a period of 12 months. The company also informed that another project for the Alipurduar Division under North Frontier Railway worth around ₹9.23 crore has also commenced and is expected to be completed in the next year.

With a market cap of around ₹100 crore, the micro-cap company specializes in the railway infrastructure development sector. Its business operations encompass various activities, including the design, drawing, supply, erection, and commissioning of 25 kilovolts, 50 Hertz Single Phase Traction Overhead Equipment for railway systems.

Price Action: BPCL’s share price was up 0.31% to trade at ₹64 in early trade on Tuesday.

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