RPP Infra Projects surges over 5 per cent on bagging orders worth Rs 1,000 crore
The shares of RPP Infra Projects Ltd were trading up by 4 per cent intraday on Wednesday after it announced that it has won four work orders, having a total consideration of Rs 1,000 crore.
RPP Infra Projects informed it has secured Rs 187.14 crore order from Greater Chennai Corporation-Storm Water Drain Department along with Rs 123.07 crore order from Water Resource Department, Tamil Nadu.
In addition, the company also received an order from Tamil Nadu Water Supply and Drainage Board for Rs 131.14 crore, and another from Highways Department-Chennai Kanyakumari Industrial Corridor Project for Rs 558.66 crore.
RPP Infra currently has an outstanding order book of Rs 3,200 crore. The company has benefitted from the recent boost in the infrastructure sector, owing to the various measures taken by the centre and state governments.
At 1.44 pm today, the company’s stock was trading at Rs 78.35, up by 5.24 per cent or Rs 3.90 per share, against a 1.60 per cent gain in the benchmark index. The 52-week high of the company was recorded at Rs 83.65 while its 52-week low is Rs 27.25 on BSE.