Madhav Infra Projects Secures Rs 37 Crore Work Order, Stock Gains 8%

21 Jun 2023 , 11:40 AM

Madhav Infra Projects witnessed an 8% surge in its shares during early trade on June 21 after being awarded a work order worth Rs 37 crore.

The company receives a letter of acceptance from the Office of The Executive Engineer Public Work, Department Bridge Construction Division SAGAR (MP) for the construction of a railway overbridge over the Bina-Katni track on Damoh-Badakpur Road in Damoh district, Madhya Pradesh.

As per data, the total cost of the project, based on the accepted rate, amounts to Rs 37,07,34,207.90. In the early trade, Madhav Infra Projects was trading at Rs 6.32, up by Rs 0.32 or 5.33%, on the BSE.

The stock’s 52-week high and low stand at Rs 6.83 (achieved on December 9, 2022) and Rs 3.55 (recorded on May 16, 2023), respectively.

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