Massive Order From RVNL Propels Small Cap Stock 4%

Shares of PSP Projects shot up sharply on Thursday after the company announced bagging the massive order.

What Happened: The company in an exchange filing said that it had received a ₹630.90 crore order from Rail Vikas Nigam Ltd. The order is for the construction of Gati Shakti Vishwavidhyalaya at Vadodara. The
project is to be completed within a period of 30 months.

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The company added that with this order the total order inflow during the year ending March 2024
amounts to ₹2,626.61 crore. Shares of the company shot up sharply as soon as the announcement was made at around 10:30 am. PSP Share price went up over 4% to hit an intraday high of ₹748.15.

With a market cap of around ₹2,500 crore, the small-cap company is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India.

Price Action: Shares of the company were up 2.38% to trade at ₹733.20 in early trade on Thursday.

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