New order boosts RPP Infra Projects

RPP Infra Projects was up 1.01% to Rs 279.50 at 12:41 IST on BSE after the company said its consortium with Siemens won order in Bangladesh.

The announcement was made during market hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was down 14.69 points or 0.05% at 29,333.79. The S&P BSE Small-Cap index was up 79.07 points or 0.53% at 14,923.18.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 71,480 shares in the past one quarter. The stock had hit a high of Rs 284 and a low of Rs 270.60 so far during the day.

The stock had hit a record high of Rs 362.20 on 10 February 2017 and a 52-week low of Rs 138.50 on 16 November 2016. It had outperformed the market over the past one month till 18 April 2017, advancing 2.86% compared with the Sensex's 1.11% fall. The scrip had, however, underperformed the market over the past one quarter, advancing 2.6% as against the Sensex's 7.56% rise.

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

The consortium of Siemens and RPP Infra Projects won order from Power Grid Company of Bangladesh (PGCB). The joint bid was submitted by Siemens and RPP Infra Projects PGCB in respect of design, supply, erection, testing and commissioning of 230 KV and 132 KV substations on turnkey basis. Scope of the order for RPP Infra Projects will be in the civil work with the share worth about Rs 97 crore.

Arulsundaram - Chairman & Managing Director of RPP Infra Projects said that this is significant development for RPP Infra Projects to work with Siemens, India. This is subsequent development in the right direction for RPP Infra Projects to execute orders in the International market. The said consortium would provide strength and will create better valuation for RPP Infra Projects shareholders, he said.

On consolidated basis, RPP Infra Projects' net profit rose 53.7% to Rs 3.95 crore on 7.9% growth in net sales to Rs 78.25 crore in Q3 December 2016 over Q3 December 2015.

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

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