Om Metals Infraprojects opens 10 per cent higher
DSIJ Intelligence / 06 Dec 2016
Om Metals Infraprojects, which previously closed at Rs 41.10; on December 6 has opened 10 per cent higher. The shares as at 9.29 am are trading at Rs 44.35 up by 7.91 per cent. The scrip has largely surged owing to the award which it has bagged.
Om Metals Infraprojects, which previously closed at Rs 41.10; on December 6 has opened 10 per cent higher. The shares as at 9.29 am are trading at Rs 44.35 up by 7.91 per cent. The scrip has largely surged owing to the award which it has bagged.
OM Metals Infraprojects has informed BSE that the company has been awarded a works contract for Hydro Mechanical works package for modernisation and renovation of Baira Siul hydroelectric power station (3 X 60 MW) in Himachal Pradesh by NHPC Ltd. The contract value is 19.91 crore and this contract should be executed in 28 months time.
The shares of the company in the last three months have fallen by 14 per cent. In Q2, the results of the Om Metals Infraprojects have been disappointing. Net profits of the company have plunged by 41.92 per cent to Rs 5.15 crores. However, the net sales have increased by 100 per cent as compared to Q2FY16 and stand at Rs 62.07 crore.
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