₹310 crore order: Infra company shares surge 11% on wins worth 50% of market cap - CNBC TV18

₹310 crore order: Infra company shares surge 11% on wins worth 50% of market cap – CNBC TV18

Posted by Admin July 9, 2024 Infra

Shares of RPP Infra Projects Ltd. surged as much as 11% on Tuesday after the company won orders worth ₹310 crore on Tuesday.

The company won the Letter of Acceptance for the construction of a new district jain at Hapur in Uttar Pradesh on an Engineering, Procurement and Construction (EPC) model for a contract value of ₹158.82 crore. The jail is said to have a capacity of 1,026 inmates, the company said in an exchange filing. The total contract value, inclusive of GST , is said to be worth ₹158.82 crore.

Additionally, it has also won a contract for the construction of a new district jail at the Jaunpur district of Uttar Pradesh on an EPC mode, which has a total contract value of ₹152.11 crore.

Both the projects are supposed to be executed over an 18-month period.

As of June 30, 2024, the company had a total order book worth ₹3,200 crore.

Shares of RPP Infra Projects are currently trading 11% higher at ₹159.25. The stock currently has a market capitalisation of over ₹600 crore.

The stock has risen just over 30% so far in 2024, including today’s move. Over the last 12 months, the stock has more than doubled in value, rising 165%.