Kridhan Infra up 7 per cent, bags Rs. 105 crore contract
DSIJ Intelligence / 27 Nov 2017
Engineering firm Kridhan Infra witnessed a surged in its share price during Monday’s intraday trade as the company’s subsidiary won contracts worth Rs. 105.6 crore.
Engineering firm Kridhan Infra witnessed a surged in its share price during Monday’s intraday trade as the company’s subsidiary won contracts worth Rs. 105.6 crore. Following the development, the share price of the company surged by over 7 per cent on BSE on Monday.
The subsidiary company, KH Forges Pt has won three new piling contracts in Singapore, amounting to Rs. 105.6 crore. The contracts include piling works for industrial development, public housing development and sub-contract for secant bored piling work.
Kridhan Infra has surged over 62 per cent on the bourses over the past six months. The company has strengthened its market in Singapore post the acquisition of the construction engineering company, Swee Hong.
On Monday, the stock surged to hit an intraday high of Rs. 104.95 per share, higher by 8 per cent on BSE. The stock hit an intraday low of Rs. 95.10 per share. The stock also witnessed a surge in its volume by more than 5.99 times during the day.
It had hit its 52-week high of Rs. 109.60 per share on October 31, 2017 and its 52-week low of Rs. 47.50 per share on March 24, 2017, respectively. At 12:02 hours on Monday, the stock was trading at Rs. 102.30 per share, higher by 7.85 per cent.
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