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RPP Infra jumps after new order

Capital Market 

RPP Infra Projects surged 7.76% to Rs 252.60 at 12:49 on after the company said it has secured order worth Rs 51.20 crore in Tamil Nadu.

The announcement was made during market hours today, 19 June 2017.

Meanwhile, the S&P Sensex was up 155.35 points or 0.5% at 31,211.75. The S&P Small-Cap index rose 2.80 points or 0.02% at 15,670.04.

On the BSE, 1.95 lakh shares were traded on the counter so far as against the average daily volumes of 1.78 lakh shares in the past one quarter. The stock had hit a high of Rs 256.65 and a low of Rs 233.55 so far during the day. The stock had hit a record high of Rs 362.20 on 10 February 2017 and a 52-week low of Rs 138.50 on 16 November 2016.

The stock had underperformed the market over the past one month till 16 June 2017, sliding 15.61% compared with the Sensex's 1.55% rise. The stock had also underperformed the market over the past one quarter, declining 14.69% as against the Sensex's 4.97% rise. The scrip had, however, outperformed the market over the past one year, surging 48.73% as against the Sensex's 17.08% rise.

The small-cap company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.

RPP Infra Projects bagged order from Tamilnadu Civil Supplies Corporation (TNCSC) for construction of scientific storage godown of 40,000 MT capacity in TNCSC campus at Nagapattinam district in Tamil Nadu. The work is to be completed within 12 months.

On consolidated basis, RPP Infra Projects' net profit fell 4% to Rs 6.54 crore on 82% growth in net sales to Rs 117.59 crore in Q4 March 2017 over Q4 March 2016.

RPP Infra Projects is engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plant.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 19 2017. 12:51 IST