Kridhan Infra surges by 15.5 percent
The government of Singapore has bought 8,95,058 equity shares of Kridhan Infra at Rs. 92 per share on Monday, December 18, 2017, as per the data available with BSE. At the same time, Mustray Impex & Services sold 20,00,000 shares of the company at Rs. 92.21 on BSE.
On Monday, the stock had closed at Rs. 99.35 per share. On Tuesday, it opened at Rs. 104 and touched an intra-day high of Rs 114.75 in the morning trading session, showing an upside of 15.5 per cent. In January 2016, the stock had touched the level of Rs. 125 and in March 2017, it went as low as Rs. 47.85 per share.
Recently, the company’s subsidiary, KH Forges Pt, had won three new piling contracts in Singapore worth Rs. 105.6 crore. Its order book stood at Singapore dollar 34 million as on September 30, 2017.
On a consolidated basis, the company’s revenue in Q2FY18 rose by 25 per cent YoY and the PAT increased by 10 per cent YoY.
Kridhan Infra has evolved from a steel products manufacturer to a niche foundation engineering company. It is the second largest foundation engineering company in Singapore by executing over 250 projects.