Monday’s stock market is a flurry of activity, with many stocks surging to new heights. However, there’s one particular stock that has caught the attention of investors and market analysts alike – Capacite Infraprojects Ltd. In this article, we’ll take a closer look at Capacite Infraprojects and explore what’s driving its recent surge in popularity.
Strong Rally in stock price
The stock opened at the level of Rs 130 on NSE and it marked intra-day low of Rs 129.45. After marking an intra-day low of Rs 129.45, the stock never looked back and it went from strength to strength to touch intra-day high of Rs 144.85. Currently, the stock is trading up by 10% at Rs 142. Talking about volume, the stock so far has registered volume of over 12.8 lakh shares, which is nearly a four-fold rise when compared to its 10 and 30-days average volume.
Key Catalyst behind the stock surge
Capacite Infraprojects Limited, has received AN order worth Rs 224 crore (Excluding GST) from M/s Raymond Limited (Realty Division) for residential project- TenX Era at Thane.
Mr. Rahul Katyal, Managing Director said “We are delighted that M/s Raymond Limited (Realty Division) have entrusted their trust and confidence in Capacite Infraprojects Limited. We remain confident of delivering the project within the stipulated timelines and to client satisfaction.
Company is a leading building construction company having presence in MMR, NCR, Gandhinagar, Bengaluru, Hyderabad, Chennai, Kochi and Pune, with specialization in construction of super high-rise buildings.
Total Order Book
Order book on standalone basis stood at Rs 9,764 crore as on December 31, 2022. Public sector accounts 67%, while private sector accounts for 33% of the total order book. Company is actively looking at various projects across the Rail Land Development Authority (RLDA). The Rail Land Development Authority, which is entrusted with upgradation and construction of 170 railway stations. Most of the tenders are upward of Rs 600 crore. So, there are substantial stations valuing in excess of Rs 1,000 crore going all the way up to Rs 5,000 crore. The company is focusing on bidding for these large tenders.