Likhita Infrastructure shares soar 8% on Rs 146 crore order win

Shares of Likhita Infrastructure soared over 8 per cent to Rs 406.60 on the BSE in Wednesday's intraday session after the company, post-market hours, said it secured an order worth Rs 145.86 crore from Indradhanush Gas Grid Limited (IGGL). In the past two sessions, the stock has gained nearly 13 per cent. 

At 10.03 am, the stock was trading 6.18 per cent higher at Rs 398.75 on the BSE. At the same time, the barometer Sensex was up 0.58 per cent at 57,883.54. 

The company in an exchange filing on Tuesday said it has received an order worth Rs 145.86 crore from Indradhanush Gas Grid Limited (IGGL) vide letter dated August 30, 2021, for laying and construction of Steel Gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid (NEGG) Project. 

It further said that the company received various orders worth 2.80 crore from Oil & Gas distribution companies during the period from June 2021 to date for the city gas distribution pipeline and related works. With this, the value of the total outstanding order book as of August 31 stood at approximately Rs 1,020 crore. 

The stock had hit a record high of Rs 480 on June 11, 2021, following a strong performance in the fourth quarter of the financial year 2020-21. The scrip had listed on exchanges on October 15 last year at Rs 130 per share against the issue price of Rs 120.