Nagarjuna Construction gets an order prop

DALAL STREET SPIKES

Nagarjuna Construction stock was in limelight after the company announced that it had won a fresh order worth Rs 74.15 crore on Wednesday. The stock in intra-day touched a high of Rs 206.50, before closing at Rs 198.70, marginally higher than its yesterday's close of Rs 197.20.

Analysts said that the stock shed its early morning gains due to the subdued sentiment across the board. The counter witnessed volumes of more than 36,000 shares on the BSE. The stock in fact has witnessed a sharp surge in the past few days, ahead of the announcement.

From a low of Rs 159.90 on July 29, 2004, the scrip jumped more than 27.6 per cent to Thursday's high of Rs 206. 50.

The orders bagged by the company include a Rs 61.41 crore contract from Patni Computer System for the construction of an IT center at MIDC Knowledge Park, Navi Mumbai and another one valued at Rs 12.73 crore from Saint Gobain Glass India for construction of an automotive glass project at Sriperumbudur, Tamil Nadu.