Kridhan Infra spurts after subsidiary wins order

Kridhan Infra rose 12.03% to Rs 51.70 at 10:19 IST on BSE after the company said its Singapore subsidiary won an order worth Rs 195 crore.

The announcement was made after market hours yesterday, 19 November 2018.

Meanwhile, the S&P BSE Sensex was down 115.36 points, or 0.32% to 35,659.52.

On the BSE, 45,000 shares were traded in the counter so far compared with average daily volumes of 8,719 shares in the past two weeks. The stock had hit a high of Rs 53.10 and a low of Rs 48.25 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 41 on 1 October 2018.

Kridhan Infra announced that its Singapore subsidiary Swee Hong has won an order for construction of link sewers for the DTSS phase 2 project from the public utilities board, Singapore worth Rs 195 crore (SG$37.2 million).

On a consolidated basis, net profit of Kridhan Infra rose 6.93% to Rs 14.50 crore on 18.96% decline in net sales to Rs 171.90 crore in Q2 September 2018 over Q2 September 2017.

Kridhan Infra is one of the pioneers in introducing the concept of ready-to-use steel for the construction industry in India. The company expanded its business to Singapore, Myanmar, Malaysia, and other South East Asian countries.

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