Micro Cap Stock Jumps 5% After Bagging Order From Tata Group

Shares of HEC Infra Projects bumped up in the green on Friday morning halting its three straight session losing streak.

What Happened: The surge today comes as the company announced bagging a major order from Tata Power Solar Systems. The order is for the comprehensive supply, erection, testing, and commissioning (SETC) of a complete engineering, procurement, and construction (EPC) solution for a 66kV Transmission Line in the Radhanpur region. As per the regulatory filing, the total cost of the order is ₹7.15 crore.

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Shares of the Ahmedabad-based company jumped up sharply after the announcement was made at around 10:10 am. The stock jumped up close to 5% to hit a new 52-week high of ₹57.50. The stock has had a rough year at the bourses, with stock going down around 5% from the start of the year, but things have been getting better recently. In the last 30 days, the stock has surged up over 15%.

With a market cap of around ₹50 crore, the micro cap company is an EPC Contractor firm
for Electro-Mechanical & Instrumentation projects.

Price Action: Shares of the company were trading 4.84% higher at ₹57.45 in the early hours of trading on Friday.

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Posted In: EquitiesNewsContractsMarketsMoversTrading IdeasHEC Infra ProjectsTata Group