Ramky Infra secures Rs. 939 crore project in Srinagar
Ramky Infrastructure, the company with a market cap of Rs. 1,150 crore has been awarded Rs. 939 crore project for construction of proposed Srinagar Semi-Ring Road/ Bypass from Gallander to Crossing of Sumbal Road by the National Highway Authority of India (NHAI).
The entire alignment has been projected on the western side of Srinagar City to provide connectivity to the regions on that side, resulting in smooth and easy traffic flow around the city. The ring road/bypass will substantially increase socioeconomic growth of the area.
Following the announcement, stocks of the company gained as much 6.21 per cent to reach an intra-day high of Rs. 212.90 apiece on the Bombay Stock Exchange. The shares of the firm were trading 4.23 per cent higher at Rs. 209.65 apiece on the National Stock Exchange.
Meanwhile, KNR Construction Ltd won its first Hybrid Annuity Mode (HAM) project with the bid project cost of Rs. 1,020.6 crore from NHAI. Whereas L&T construction has bagged orders worth Rs. 1,593 crore.