RPP Infra bags Rs231.77cr order for Chennai - Kanyakumari Industrial Corridor projects; stock gains

The company said it has received a work order for an amount of Rs231.77cr from Highways Department for 'Chennai- Kanyakumari Industrial Corridor Projects

Jan 12, 2021 08:01 IST India Infoline News Service

RPP Infra Projects saw its shares climb 3.65% on the BSE to trade at Rs69.55 per piece at around 1:46PM after the company announced  that it has won a work order. The company said it has received a work order for an amount of Rs231.77cr from Highways Department for 'Chennai- Kanyakumari Industrial Corridor Projects'.

The company has to execute these orders within a period of 24 months.

The above work order has been awarded to the joint venture, RPP-RK (JV), where the Cempany holds 60% of the shares and joint venture partner R.K. Infra Corp. Pvt Ltd., holds 40% of the shares. As decided by the joint venture, this work order will be executed by RPP Infra Projects Limited subject to completion of formalities.

"The Company is on way to have order Book of Rs2,000cr as on date. These order books would result in improved financials of the Company," it said.

The company was trading 3.65% higher at Rs69.55 per piece on the BSE.

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