RPP Infra JV gains over 2 per cent on bagging orders worth Rs 174.03 crore
On Thursday, the shares of RPP Infra Projects Ltd jumped by more than 2 per cent after the company announced that its JV, of which, it holds 49 per cent, secured work orders worth Rs 174.03 crore in Chennai, India.
The work order relates to the construction of integrated stormwater drain in North Korattur Lake Watershed of Kosasthalaiyar Basin in the extended area of Greater Chennai Corporation under Integrated Urban Flood Management for Chennai Kosasthalalyar Project funded by Asian Development.
The company stated in a press release to BSE that with the above work order, the company will soon have an order book of Rs 2,000 crore by FY21 end, which would eventually result in improved financials for the company.
The company is in the construction business, primarily engaged in the business of infrastructure development such as highways, roads & bridges. It has diversified civil work expertise in SEZ development, water management projects as well as irrigation & power projects.
On Thursday, the stock of RPP Infra Projects closed at Rs 70 per share, up by 2.19 per cent or 1.50 per share. The 52-week high is recorded at Rs 74.35 while its 52-week low is Rs 27.25 on BSE.