RPP Infra Projects secures orders worth Rs 482 Cr; Stock hits upper circuit

26 September 2023
2 mins read
by Angel One
Shares of the company have generated an impressive return of 73% in the last six months.
RPP Infra Projects secures orders worth Rs 482 Cr; Stock hits upper circuit

RPP Infra Projects Limited, a prominent Indian company engaged in construction across multiple infrastructure verticals such as roads, buildings, industrial structures, power, irrigation, and waste management, has made a significant announcement regarding the orders it has received.

According to the official report, the company has received multiple orders worth approximately Rs 482 crore. What’s more, this order value is 1.8 times higher than the company’s current market capitalization, which stood at Rs 268 crore at the time of writing this article.

The following are the order details as provided by the company:

The first order is for Road and Drain Works-1 for the CBR Project of CPCL at Nagapattinam, Tamil Nadu at a contract price of Rs 300.44 crore (including GST).

The second project is for the provision of civil works and Allied Services for the Engine Test Facility along with Ancillary work for GRTE at Rajankute, Bengaluru, Karnataka at a contract price of Rs 90.18 crore (including GST).

The next order is from Thoothukudi Corporation for the Construction of Storm Water Drain from Ponsubbiah Nagar to Loorthammalpuram Main Road package 4 under ADB Tamil Nadu Urban flagship investment Program-tranche 3 at a contract price of Rs 16.88 Crore (including GST).

Additionally, RPP Infra Projects Ltd, in a joint venture with M/s. Sun Construction (M/s. RPP-Sun JV), has also received an order for the project titled “Twad- Improvement of existing CWSS to Pudukkottai municipality and three Town Panchayats and fifteen wayside habitations in Pudukkottai district, Tamil Nadu with a contract value of Rs 74.87 Crore (including GST).

Furthermore, the joint venture comprises RPP Infra Projects with a 51% stake and Sun Construction with a 49% stake in the project.

Turning your attention to the company’s stock price, the stock opened the day at Rs 71.36 each on the BSE, which is 4.98% up from the previous day’s closing price of Rs 67.97 per share. As of writing this article, the shares are currently locked in the upper circuit limit of 5% and are at Rs 71.36.5.

In addition to this, the stock has delivered an impressive return of 85% in the last year.

Investors must keep this stock on their radar.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.