SPML Infra gains 5% on Rs 1,232 crore new orders

The company has won new orders worth Rs 1,232 crore from Uttar Pradesh Jal Nigam, Agra and Sardar Sarovar Narmada Nigam, Gandhinagar.

SPML Infra has locked in upper circuit of 5% at Rs 65 on National Stock Exchange after the company said it has won new orders worth Rs 1,232 crore from Uttar Pradesh Jal Nigam, Agra and Sardar Sarovar Narmada Nigam, Gandhinagar.

A combined 3,953 shares changed hands and there are pending buy orders for 34,717 shares on NSE and BSE at 1340 hours.

“The two orders (5B and 5C) received from UP Jal Nigam worth Rs 1,002 crore is for augmenting drinking water supply for Agra city with laying of 128 kilometers of water pipeline. The Rs 230 crore order from Sardar Sarovar Narmada Nigam Ltd., Gandhinagar is for infrastructure development for hydro generating units at Kutchh, Gujarat”, SPML Infra said in a statement.

The scope of Agra project work under contract 5C includes supply and construction of 2800 mm diameter mild steel conveyance main of 32 kilometers. This project is executed with foreign aid from Japan International Cooperation Agency (JICA). SPML will be executing this project with its JV partner, Megha Engineering Infrastructure Limited.

The Gujarat order is for construction of three hydro power plants with combined capacity of 23 MW in Kutchh. The scope of work includes civil, electrical and mechanical construction with design, engineering, testing and commissioning of three small hydro power projects with 5 years of operations & maintenance. SPML will execute this project in partnership with Om Metals Infraprojects Limited, it added.