B.L Kashyap spikes up by 12 per cent, won Rs. 652 crore order
Construction company, B.L Kashyap and Sons bagged orders worth Rs. 652 crore. The stocks rallied almost 12.6 per cent intraday.
These orders have come from various domestic clients from the cities of Bangalore and Chennai who would require the company to work on residential, commercial as well as government ventures. The company has been given 24 months from the date of the award to complete most projects.
In Bangalore, the company will work on the construction of Shell & Core residential tower at Seegahalli. This project is worth Rs. 82.50 crore. Another project, worth Rs. 70.57 crore has been awarded for the establishment of Infrastructure for Production Augmentation facilities. In Chennai, the company will design and construct underground commuter amenities centre at Shenoy Nagar Metro Station for Rs. 192.34 crore. In Bangalore, the company will design and build pre-fabricated steel structure totalling to Rs. 143.24 crore. For another order also in Bangalore, the company will be engaged in concrete and block work for High Rise Apartments, the order is worth Rs. 163.60 crore.
On Monday, the shares of the company opened at Rs. 20.70 per share and climbed intraday high of Rs. 24.30 per share while intraday low was recorded at Rs. 20.40 per share. The shares closed at Rs 22.80 per share, up by 10.14 per cent.
Meanwhile, the BSE Sensex closed at 35,853.56 level, down by 0.43 per cent.