Vishnu Prakash R Punglia has secured major contracts from the North Western Railway.
What Happened: The engineering, contracting, and designing firm, has been granted Letters of Acceptance for two key projects by the North Western Railway. The news was officially disclosed on Wednesday afternoon.
The first project encompasses the construction of bridges, roads under bridges, earthwork, platforms, shelters, staff quarters, offices, and other ancillary works in the Pushkar – Katyasani section in the Ajmer division of North Western Railway. The contract value is pegged at ₹88.61 crore.
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The company in a joint venture has also been chosen for a significant upgrade project of the Bikaner Railway Station. The project is estimated to be worth ₹382.4 crore.
The company expressed its enthusiasm about the project, stating, “We look forward to collaborating closely with North Western Railway, Ajmer and Bikaner division and stakeholders to ensure the successful completion of the Project.”
Shares of the company rocketed as soon as the announcement was made. The stock went up 6% to hit an intraday high of ˀ₹226.03.
Price Action: Shares Vishnu Prakash R Punglia were up 5.87% to trade at ₹224.85 on Wednesday afternoon.
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