RPP Infra Projects gains after bagging contract

RPP Infra Projects rose 4.28% to Rs 82.85 at 10:31 IST on BSE after the company said it bagged new order worth Rs 25.38 crore in Tamil Nadu.

The company made the announcement during trading hours today, 25 August 2014.

Meanwhile, the BSE Sensex was up 163.88 points, or 0.62%, to 26,583.43.

On BSE, so far 10,000 shares were traded in the counter, compared with an average volume of 25,439 shares in the past one quarter.

The stock hit a high of Rs 84 and a low of Rs 78.15 so far during the day. The stock hit a record high of Rs 100 on 4 June 2014. The stock hit a 52-week low of Rs 36 on 23 August 2013.

The stock had outperformed the market over the past one month till 22 August 2014, rising 1.86% compared with 1.51% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.69% as against Sensex's 8.39% rise.

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

RPP Infra Projects said it won a contract for construction of scientific storage godown of 22000 MT capacity in Tamil Nadu Civil Supply Corporation (TNCSC) campus at Karumathampatti Village in Sulur Taluk, Coimbatore District, for a total value of Rs 25.38 crore.

Arul Sundaram, CMD. RPP Infra Projects, said that this year is looking very good with winning many orders and few more in pipe line and civil supply, we are very positive that the top line of our company will touch new heights.

On a consolidated basis, RPP Infra Projects' fell 2.3% to Rs 2.98 crore on 25.4% decline in net sales to Rs 47.10 crore in Q1 June 2014 over Q1 June 2013.

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 plants.

Powered by Capital Market - Live News