Delhi order pumps up Subhash Projects

DALAL STREET SPIKES

The Subhash Projects & Marketing scrip hit the daily circuit filter as it went up 5 per cent to Rs 95.70 on Monday. The scrip surged on the company's announcement of bagging an Rs 49.85 crore order for construction of a pumping station in Delhi.

The scrip had been on a rise in the past one month, powered by many order wins. The scrip rose above 100 per cent during this month.

The company had posted excellent first quarter results, registering a net profit of Rs 1.32 crore against Rs 0.05 crore posted in the previous year. Net sales went up more than 100 per cent in the same period. All the construction scrips have been on a rally, of late.