PSP Projects bucks trend on winning orders

PSP Projects rose 0.67% to Rs 528.25 after the company said it is in receipt of LoA/work orders worth Rs 357.90 crore from various clients.

The construction engineering company on Monday (27 January) said that it is in receipt of LoA/work orders worth Rs 357.90 crore for institutional, industrial, government and government residential projects from various clients, which includes a major work awarded for development and beautification of Shri Kashi Vishwanath Dham at Varanasi, Uttar Pradesh worth Rs 339 crore and remaining from other clients.

With receipt of the above, the total work orders received during the financial year 2019-20 (till date) on standalone basis amounts to Rs 1510.85 crore, it added.

Meanwhile, the S&P BSE Sensex was down 245 points or 0.59% to 41367.85.

On the BSE, 649 shares were traded in the counter so far compared with average daily volumes of 1,513 shares in the past two weeks. The stock hit a high of Rs 545 and a low of Rs 525.4 so far during the day.

The stock hit a 52-week high of Rs 617 on 28 Jun 2019. The stock hit a 52-week low of Rs 379.45 on 04 Feb 2019.

The stock had outperformed the market over the past one month, rising 4.14% compared with 0.37% rise in the Sensex.

The scrip underperformed the market in past one quarter, falling 3.44% as against Sensex's 6.64% fall.

The scrip had also outperformed the market in past one year, gaining 31.91% as against Sensex's 14.97% rise.

The mid cap company has equity capital of Rs 36.00 crore. Face value per share is Rs 10.

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