Nagarjuna Const high on bagging Gujarat projects

DALAL STREET SPIKES

Construction company Nagarjuna Construction was in the limelight on the bourses on Monday after the company announced that it has secured three new orders aggregating Rs 9,550 million from National Highway Authority of India (NHAI) for construction of highways under "East West Corridor Project" in Gujarat.

Company officials added that these projects are received under a joint venture with M/s Dealim Industrial Co Ltd, a South Korea firm and shall be completed in a period of 33 months.

The counter hit a high of Rs 437.95 and a low of Rs 411 in intra-day trades before closing at Rs 415.70, up 0.62 per cent from its previous close. More than 68,325 shares were traded on the Bombay Stock Exchange.

Market sources said that a healthy order book has helped the scrip clock huge gains on the bourses in the last few months.