Madhucon hits upper limit on Rs 196 cr order

The stock was locked ta the same upper circuit with buy orders of 22,895 shares pending. Around 4,319 shares were traded on the BSE today.
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(Updated at 1129 hrs)

Madhucon Projects today opened at the 5% upper circuit at Rs 120.50 on the back of Rs 196 crore order.

The stock is still locked at the upper circuit with trades of only 2,795 shares on the BSE. There are buy orders for 48,092 shares still pending at the counter on the BSE.

According to a release issued by the company to the BSE, Northern Coalfields has assigned a contract worth Rs 196.24 crore for work of removal of over burden at Jayant OCP of NCL. The work has to be completed within a period of 36 months.