A2Z Infra gains on winning order from Nepal Electricity Authority

The stock is up 5% at Rs 32.60 after the company said it won a contract worth of $13.56 million from Nepal Electricity Authority

A2Z Infra Engineering were trading higher by 5% at Rs 32.60 on the BSE in an otherwise weak market after the company announced that it won a contract worth of approximately Rs 90 crore ($13.56 million) from Nepal Electricity Authority.

“A contract has been awarded from Nepal Electricity Authority (a Government of Nepal Undertaking) for expansion of distribution network in the Western Region of Nepal for contract price aggregating to $13.56 million,” AZZ Maintenance & Engineering Services, a company engaged in an engineering, procurement and construction (EPC) business said in a BSE filing.

The stock hit a 52-week high of Rs 34.60 on the BSE in intra-day trade. A combined 3.54 million shares changed hands on the counter on the BSE and NSE so far. The  S&P BSE Sensex was down 1% at 26,368 points at 01:16 PM.