Simplex wins Rs.1,080 crore order from MMRDA; stock at 52-week high
Shares of Simplex Infrastructures hit a fresh 52-week high of Rs. 617 on NSE on Wednesday after the company announced an order win from MMRDA worth Rs. 1,080 crore.
The company informed the bourses that it has received an order from Mumbai Metropolitan Region Development Authority (MMRDA) for part design and construction of elevated viaduct and 11 elevated stations.
For this project Simplex Infrastructures will construct 11 elevated stations from ESIC Nagar, Prem Nagar, Indira Nagar, Old Airport, Khira Nagar, Saraswat Nagar, National College, Bandra (W), MMRDA Office, Income Tax Office and BKC. The DN Nagar to Mankhurd Metro-2B Corridor is 23.5-km long corridor and will have 22 stations. The expected daily ridership on the corridor is said to be more than 8 lakh commuters. The corridor is expected to save both time and fuel.
Established in 1924, Simplex Infrastructures Limited is a diversified company that executes projects in several sectors including Transport, Energy & Power, Mining, Buildings, Marine and Real Estate.
On Wednesday, Simplex Infrastructures closed at Rs. 606.00 per share, up Rs 14.20 or 2.40 per cent on NSE. The scrip opened at Rs. 572.00 and touched a 52 week high of Rs. 617.00 per share on NSE. The stock attracted a traded volume of 87,510 shares on NSE.