RPP Infra Projects gains after receiving order from Southern Railways

RPP Infra Projects rose 1.32% to Rs 123 at 11:05 IST on BSE after the company said that it has received a maiden order worth Rs 11.90 crore from Southern Railways.

The company made announcement during market hours today, 19 October 2015.

Meanwhile, the BSE Sensex was up 71.05 points, or 0.26%, to 27,285.65.

On BSE, so far 38,770 shares were traded in the counter, compared with an average volume of 66,031 shares in the past one quarter.

The stock hit a high of Rs 129 and a low of Rs 122.40 so far during the day. The stock hit a record high of Rs 179.70 on 4 February 2015. The stock hit a 52-week low of Rs 84.90 on 7 September 2015.

The stock had outperformed the market over the past one month till 16 October 2015, rising 22.6% compared with 4.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.23% as against Sensex's 4.33% decline.

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

RPP Infra Projects said that the said work is to be completed in 12 months.

Mr Arul Sundaram, Chairman and Managing Director of the company said that this is the start of company's new relations with Southern Railways of India. With rapid infrastructure development throughout the country & with good margins in this kind of order, company is poised to achieve greater revenues & profits in coming years. Going forward company expects many such orders from Southern Railways, he added.

On consolidated basis, RPP Infra Projects' net profit rose 50.3% to Rs 4.48 crore on 81.8% rise in net sales to Rs 85.65 crore in Q1 June 2015 over Q1 June 2014.

RPP Infra Projects is in the field of infrastructure development such as roads, buildings, industrial structures, power, and irrigation.

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