RPP Infra Projects gains after winning new contract

RPP Infra Projects rose 2.71% to Rs 121.20 at 11:53 IST on BSE after the company said it bagged a contract worth Rs 49.54 crore in Tamil Nadu.

The announcement was made during trading hours today, 18 December 2014.

Meanwhile, the BSE Sensex was up 253.77 points, or 0.95%, to 26,963.90.

On BSE, so far 1.40 lakh shares were traded in the counter, compared with an average volume of 37,222 shares in the past one quarter.

The stock hit a high of Rs 127.75 and a low of Rs 119.50 so far during the day. The stock hit a record high of Rs 165 on 25 November 2014. The stock hit a 52-week low of Rs 39.10 on 18 December 2013.

The stock had underperformed the market over the past one month till 17 December 2014, falling 16.40% compared with 5.21% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 36.89% as against Sensex's 0.30% 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 from Tamil Nadu Water Supply & Drainage Board for providing combined water supply scheme to 158 rural habitations in Gudimangalam and Udumalaipettai Unions in Tiruppur District, Tamil Nadu including paid maintenance for a period of 12 months for a total value of Rs 49.54 crore.

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

On a consolidated basis, net profit of RPP Infra Projects declined 15.05% to Rs 4.12 crore on 2.54% rise in net sales to Rs 60.25 crore in Q2 September 2014 over Q2 September 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.

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