ARSS Infra hits the roof after order win

ARSS Infrastructure Projects hit an upper circuit limit of 5% at Rs 23.75 after the company said it received work order worth Rs 45.80 crore for construction of a road and bridge in Sonepur, Odisha.

The contract was awarded by the office of the executive engineer Sonepur (R&B) division, Sonepur on 18 November 2019. The announcement was made after market hours on Friday, 22 November 2019.

Shares of ARSS Infrastructure Projects fell 7.55% in the past two trading sessions to settle at Rs 22.65 on Friday, 22 November 2019, from its close of Rs 24.50 on 20 November 2019.

Meanwhile, the S&P BSE Sensex was up 229 points or 0.57% to 40,588.78.

In the past one month, shares of ARSS Infrastructure Projects rose 6.98% to its current market price of Rs 23.75, outperforming the Nifty Realty index's 5.15% fall in the same period.

On a consolidated basis, ARSS Infrastructure Projects reported a net loss of Rs 3.31 crore in Q2 September 2019 compared with a net loss of Rs 3.50 crore in Q2 September 2018. Net sales declined 12.6% to Rs 71.21 crore in Q2 September 2019 over Q2 September 2018.

ARSS Infrastructure Projects is engaged in civil construction activities.

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