RPP Infra Surges After Bagging New Orders Worth Rs 1,000 Crore
Shares of RPP Infra Projects Limited surged as much as nine per cent to hit a new 52-week high of Rs 83.25 on the BSEÂ in Wednesday's intra day trade after the company won four new orders worth Rs 1,000 crore. On Wednesday, March 3, RPP Infra Projects opened at Rs 74.55 on the BSE, touching an intra day high of Rs 83.65 and an intra day low of Rs 71, so far. According to a regulatory filing by the company to the BSE, it has won new infrastructure projects to be executed under the Jal Jeevan Mission, industrial corridor projects, as well as water departments.
Among the orders that RPP infra has won, the first order is from the Tamil Nadu Water Supply and Drainage Board under the Jal Jeevan Mission worth Rs 131.14 crore. The second order that the company has bagged is from the Highways Department as part of the Chennai-Kanyakumari Industrial Corridor Project which includes the redevelopment of two stretches of the road at a total contract price of Rs 558.66 crore. This project includes the upgrading of the Malliyakarai- Rasipuram-Tiruchengode-Erode road and the Kanchipuram-Arakkaonam-Thiruthani road.
According to the company's statement, the third order is from the Chennai Municipal Corporation's Storm Water Drain department. For this project, the order value is Rs 187.14 crore. The fourth and the last order is from the Water Resource Department, Tamil Nadu for the renovation, extension, as well as modernisation of the Lower Bhavani Project main canal in Erode District worth Rs 123.07 crore.
At 12:46 pm, RPP Infra was trading 5.57 per cent higher at Rs 78.60 on the BSE.
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