Kridhan Infra rises after unit wins order

Kridhan Infra rose 1.14% to Rs 102.20 at 14:43 IST on BSE after the company said its subsidiary Swee Hong won order worth Rs 56.60 crore in Singapore.

The announcement was made after market hours yesterday, 2 May 2018.

Meanwhile, the S&P BSE Sensex was down 36.79 points, or 0.10% to 35,139.63.

On the BSE, 28,000 shares were traded in the counter so far compared with average daily volumes of 25,000 shares in the past two weeks. The stock had hit a high of Rs 104 and a low of Rs 101.20 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 Swee Hong has successfully won order worth Rs 56.60 crore in Singapore. Swee Hong has secured these contracts, from the Public Utilities Board for work in respect of proposed sewers in Punggol North Area.

Kridhan Infra has evolved into a leading engineering, procurement, and construction (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 infrastructure solutions company.

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