Shares of RBM Infracon surged on Monday morning as the company bagged the massive order.

What Happened: The company on September 6, announced that it had received a service order from ONGC. The order is worth around ₹3,498 crore and has a validity period of 15 years.

In addition to the massive contract from the public sector firm, the microcap company also announced bagging an order from Redi Port worth around ₹69.08 lakh.

The order is for the repairs and maintenance at Redi Port, Vengurla, Sindhudurg, Maharashtra and is expected to be completed by the end of September.

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With a market cap of around ₹800 crore, RBM Infracon offers construction, maintenance and turnaround services to industries including oil and gas refineries, petrochemicals, fertilisers, gas cracker plants, power plants (coal, gas, and waste heat recovery), chemicals, cement, sugar, paper, irrigation and other related sectors.

As per the company’s website, it has served a diverse range of clients, including Reliance Industries, Chemie-Tech in Nigeria and Malta, GPPL in Malta, Tata Projects and L&T, among others.

Price Action: RBM Infracon’s share price was locked in the 5% upper circuit at ₹800.50 shortly after market open on Monday.

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