Rs 453 crore order book: Stock under Rs 80 hit upper circuit after receiving an order worth Rs 58,25,22,752.56 from TUDA

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Rs 453 crore order book: Stock under Rs 80 hit upper circuit after receiving an order worth Rs 58,25,22,752.56 from TUDA

The stock is up by 18.7 per cent from its 52-week low of Rs 65.83 per share.

Oval Projects Engineering Limited, as part of a joint venture with Raviraj Bokadia Creative, has been awarded a Letter of Acceptance (LoA) from the Tripura Urban Development Authority (TUDA). The project, valued at Rs 58,25,22,752.56, involves the development of roads and a storm water drainage system in the towns of Khowai, Ranirbazar, and Mohanpur (Cluster 1A). Oval Projects Engineering holds a 51 per cent stake in the joint venture, with Raviraj Bokadia Creative holding the remaining 49 per cent. This is a domestic project that will contribute to the urban infrastructure of Tripura.

Earlier, the company received a new Letter of Award (LoA) from the Tripura Urban Planning and Development Authority (TUDA). The contract, valued at over Rs. 21.04 crore, is for the construction of a vegetable and fish market in Vidhyasagar Market, Belonia, located in the South Tripura District. This domestic project falls under the Special Assistance for Capital Investment scheme for the financial year 2023-24 (Urban Reform Part-III). The company is required to complete the construction within a period of 730 days from the issuance of the work order.

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Oval Projects Engineering Limited, an infrastructure development company incorporated in 2013, specialises in the Oil & Gas, City Gas Distribution, Urban Development, and Energy sectors across India. Headquartered in Agartala, Tripura, the company provides EPC (Engineering, Procurement & Construction) and O&M (Operations & Maintenance) services, with a primary focus on the Oil & Gas sector and additional expertise in civil projects.

On Tuesday, Oval Projects Engineering Limited hit a 5 per cent upper circuit to Rs 78.13 per share from its previous closing of Rs 74.41 per share. The shares have a 52-week high of Rs 86 per share and a 52-week low of Rs 65.83 per share. The company has a market cap of over Rs 160 crore and as of April 2025, has an order book of Rs 453 crore. The stock is up by 18.7 per cent from its 52-week low of Rs 65.83 per share.

Disclaimer: The article is for informational purposes only and not investment advice.