RPP Infra gains after winning order

RPP Infra Projects rose 2.13% to Rs 268 at 14:10 IST on BSE after the company said it bagged a construction order worth Rs 38.90 crore from Sumitomo Electric Industries.

The announcement was made during trading hours today, 31 August 2017.

Meanwhile, the S&P BSE Sensex was down 3.77 points, or 0.01% to 31,642.69.

On the BSE, 37,000 shares were traded in the counter so far, compared with average daily volumes of 1.84 lakh shares in the past one quarter. The stock had hit a high of Rs 272.50 and a low of Rs 260 so far during the day. The stock hit a 52-week high of Rs 362.20 on 10 February 2017. The stock hit a 52-week low of Rs 138.50 on 16 November 2016.

The stock had outperformed the market over the past one month till 30 August 2017, rising 5.57% compared with 2.85% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.62% as against Sensex's 1.63% rise. The scrip had also outperformed the market in past one year, rising 41.88% as against Sensex's 11.23% rise.

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

RPP Infra Projects said it bagged an order from Sumitomo Electric Industries by sub-contracting a portion of the project. It involves setting up +/-320KV, 2x1000MW VSC base HVDC terminals and DC XLPE cable system between Pugalur and North Trichur associated with HVDC bipole link between western region (Raigarh, Chhattisgarh) and Southern region (Pugalur, Tamil Nadu - North Trichur, Kerala).

Scope of the work includes construction of concrete duct bank and supply of all necessary items including HDPE pipes for 13.50 kilometres from Vadakkancherry. The work to be completed within 18 months.

Net profit of RPP Infra Projects rose 23.73% to Rs 7.77 crore on 32.70% rise in net sales to Rs 112.48 crore in Q1 June 2017 over Q1 June 2016.

RPP Infra Projects is one of India's fastest growing niche infrastructure players.

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