New order boosts RPP Infra Projects

RPP Infra Projects rose 3.02% to Rs 109 at 11:58 IST on BSE after the company said it has secured a contract worth Rs 30.9 crore from the Karnataka State Police Housing & Infrastructure Development Corporation.

The announcement was made during market hours today, 16 March 2016.

Meanwhile, the S&P BSE Sensex was down 164.92 points or 0.67% at 24,386.25.

On BSE, so far 42,000 shares were traded in the counter as against average daily volume of 90,636 shares in the past one quarter. The stock hit a high of Rs 111.50 and a low of Rs 106.50 so far during the day. The stock had hit a 52-week high of Rs 165.80 on 5 May 2015. The stock had hit a 52-week low of Rs 84.90 on 7 September 2015. The stock had underperformed the market over the past one month till 15 March 2016, sliding 4.17% compared with Sensex's 4.23% rise. The scrip had, however, outperformed the market in past one quarter, declining 1.95% as against Sensex's 3.04% fall.

The small-cap company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.

RPP Infra Projects said that the latest project secured from the Karnataka State Police Housing & Infrastructure Development Corporation is to be completed within 20 months.

On consolidated basis, RPP Infra Projects' net profit fell 44% to Rs 2.57 crore on 3.6% decline in net sales to Rs 72.50 crore in Q3 December 2015 over Q3 December 2014.

RPP Infra Projects is engaged in business of infrastructure development such as highway roads, bridges, civil construction works, irrigation & water supply projects & power plant.

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