BL Kashyap stock soars ~8% on Rs652cr order win

The company has won the orders in categories like residential, commercial, and government ventures. Most projects are expected to be completed in a period of 24 months from the date of award.

Jan 14, 2019 06:01 IST India Infoline News Service

Shares of BL Kashyap and Sons soared ~8% in intraday trade on Monday after the company won an order worth Rs652cr. The company has won the orders in categories like residential, commercial, and government ventures.

The projects are from various unrelated domestic clients from varied sectors in cities such as Bangalore and Chennai.  

These include:
• The construction of shell & core residential tower at Seegahalli, Bengaluru, with superstructure approx. 7 lakh sq.ft. and substructure 2.50 lakh sq.ft. (worth Rs82.50cr).
• Establishment of infrastructure for production augmentation facilities at LCA Tejas division (built-up area of ~3 lakh sq.ft. worth Rs70.57cr).
• Design and construction of underground commuter amenities centre at Shenoy Nagar Metro Station, Chennai (built-up area approx. 4 lakh sq.ft. worth Rs192.34cr).
• Design and build prefabricated steel structure at Bengaluru (built-up area of approx.10.81 lakh worth Rs143.24cr).
• Concrete and block work for high-rise apartments at Bengaluru (built-up area approx. 15 lakh sq.ft. worth Rs163.60cr).

Most projects are expected to be completed in a period of 24 months from the date of the award win.

“The total order inflow during the financial year 2018-19 up to December 31, 2018, for BL Kashyap stands at ~Rs1,232cr, the company mentioned in the exchange filing.

BL Kashyap & Sons Ltd share price is currently trading at Rs22.75, up Rs2.15, or 10.44%, from its previous close of Rs20.60 on the BSE.

The scrip opened at Rs20.60 and has touched a high and low of Rs23.95 and Rs20.50, respectively. So far, 4,45,479 (NSE+BSE) shares were traded on the counter

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