RPP Infra wins orders worth Rs252.9cr; stock gains 2%

Of the total, an order worth Rs194.7cr has been received from the Tiruppur City Municipal Corporation, LoI worth Rs40.2cr has been received from BHEL, and a work order worth Rs18cr received from Thoothukudi Smart City.

Jan 30, 2019 07:01 IST India Infoline News Service

IT Stocks Up
RPP Infra won three orders worth Rs252.9cr on Wednesday. Reacting to this, shares of the company gained 2% on the BSE.

Of the total, an order worth Rs194.7cr has been received from the Tiruppur City Municipal Corporation for construction of 12 Elevated Service Reservoirs. The project is expected to be completed within 36 months, the company said in a press note on Wednesday.

Additionally, "RPP Infra has received a Letter of Intent (LoI) from Bharat Heavy Electricals Limited (BHEL) worth Rs40.2cr in Tuticorin, Tamil Nadu for the fabrication & erection of structural steel for their powerhouse, to be completed within 24 months," the company added.

Another order worth Rs18cr has been received to build a Storm Water Drain for the Thoothukudi Smart City in Tamil Nadu.
 
RPP Infra Projects Ltd's share price is currently at Rs120.65, up by Rs3.55 or 3.03%, from its previous close of Rs117.10 on the BSE.
The scrip opened at Rs118.40 and has touched a high and low of Rs121 and Rs118.40, respectively. So far, 19,406 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs264.65cr.

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