Nila Infra gains on order win

Nila Infrastructures rose 1% to Rs 5.05 after the company secured a construction contract of Rs 46.21 crore from Dholera Industrial City Development.

The order is for design and construction of service area building in Dholera Special Investment Region. The contract is on EPC basis with specific duration of 545 days.

This project is a prominent part of the Government of India's plan for comprehensive development of Delhi Mumbai Industrial Corridor (DMIC) along the alignment of proposed multi-modal high axle load dedicated freight corridor between Delhi and Mumbai, spanning over 1,483 km. The announcement was made during market hours today, 13 September 2019.

Shares of Nila Infrastructures soared 16.62% in five trading sessions to its current market price of Rs 5.05, from a recent closing low of Rs 4.33 on 5 September 2019.

On BSE, 11,000 shares were traded in Nila Infrastructures counter, compared to a 2-week average of 30,000 shares. The stock hit an intraday high of Rs 5.26 and an intraday low of Rs 4.95.

It hit a 52-week high of Rs 11.20 on 17 September 2018 and a 52-week low of Rs 4 on 29 August 2019.

Nila Infrastructures' consolidated net profit fell 17.9% to Rs 3.67 crore on 6.5% increase in net sales to Rs 50.95 crore in Q1 June 2019 compared with Q1 June 2018.

Nila Infrastructures is a holding company, which is engaged in the construction and development of real estate and infrastructure projects. The construction firm is focused on urban infrastructure projects and residential real estate.

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