Kridhan Infra jumps after winning order

Kridhan Infra rose 2.74% to Rs 119.90 at 9:56 IST on BSE after the company said it won order worth Rs 134 crore in Singapore.

The announcement was made after market hours yesterday, 5 April 2018.

Meanwhile, the S&P BSE Sensex was down 92.77 points, or 0.28% to 33,504.03.

On the BSE, 50,000 shares were traded in the counter so far compared with average daily volumes of 66,000 shares in the past two weeks. The stock had hit a high of Rs 122.50 and a low of Rs 119.30 so far during the day. The stock hit a record high of Rs 142 on 5 January 2018. The stock hit a 52-week low of Rs 52.45 on 8 May 2017.

Kridhan Infra announced that its subsidiary, KH Foges, was recently awarded a new piling contract in Singapore worth Rs 134 crore (SG$ 27 million). The contract period for the project is approximately 4 months.

Kridhan Infra said it has evolved into a leading EPC company in Singapore through the acquisition of Swee Hong. The company has an established foothold in the geotechnical and foundation engineering space and is the 2nd largest foundation engineering player in Singapore.

On a consolidated basis, net profit of Kridhan Infra rose 40.34% to Rs 10.82 crore on 27.90% decline in net sales to Rs 137.89 crore in Q3 December 2017 over Q3 December 2016.

Kridhan Infra is an ISO 9001:2008 certified infrastructure solutions company.

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