RPP Infra has been locked in at upper circuit post order win
DSIJ Intelligence / 28 Dec 2016
Engineering & construction company, RPP Infra Projects has been locked in at upper circuit during the late afternoon trading session, post company informing about winning an order worth Rs 54.2 crore.
Engineering & construction company, RPP Infra Projects has been locked in at upper circuit during the late afternoon trading session, post company informing about winning an order worth Rs 54.2 crore.
RPP Infra has received an order from Kamarajar Port Limited for the construction of Container Pre-Stacking Yard; and other ancillary facilities worth Rs 24.2 crore; in addition to work received from Annai Infra Developers, Erode, to construct the integrated storm water drains in Virugambakkam and Arumbakkam water shed of Cooum Basin in expanded area of Chennai Corporation for worth Rs 30 crore.
Reacting to the news company's stock spiked up 20 per cent in trade to lock at upper circuit at Rs 238.30 on NSE.
RPP Infra has increased more than 40 per cent in the previous two trading sessions. Stock has been running only on news, as fundamentally there is no specific turnaround in the financials of RPP Infra.
Stock of RPP Infra closed at Rs 238.30, up 20 per cent on NSE.
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