Madhav Infra Projects Ltd., a small-cap infrastructure builder, on Friday received a railway contract worth Rs 264 crore. The order was bagged from Western Railway's MG Railway Station, Indore, according to an exchange filing.
The work order involves earthwork and blanketing in embankment and bridge approaches, construction of bridge work and of retaining boundary and toe wall, as well as supply and spreading of machine-crushed stone ballast.
Moreover, laying and linking of BG track for mainline, looplines and points and crossing etc. in section between Amjhera-Sardarpur (18.46 KM) in connection with new BG line project between Dahod-Indore of Ratlam Division of Western Railway.
The company is expected to complete the project in 18 months.
Interestingly, the deal value is two-thirds of Madhav Infra Projects' total market capitalisation of nearly Rs 400 crore as of Friday.
The Gujarat-based company operates in the fields of energy, real estate, highways and urban infrastructure.
Madhav Infra Projects share price was trading as much as 1.9% higher at Rs 14.75 apiece, compared to a 1% rise in the benchmark BSE Sensex. The stock has risen 25% so far this year.
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