RPP Infra Projects jumps after subsidiary bags contract

RPP Infra Projects rose 4.15% to Rs 179.50 at 13:23 IST on BSE after the company said its wholly-owned subsidiary in Sri Lanka bagged order worth $10.36 million.

The announcement was made during trading hours today, 13 July 2016.

Meanwhile, the BSE Sensex was down 30.22 points, or 0.11%, to 27,777.92.

On BSE, so far 2.85 lakh shares were traded in the counter, compared with an average volume of 72,723 shares in the past one quarter. The stock hit a high of Rs 188.85 and a low of Rs 172.65 so far during the day. The stock hit a 52-week high of Rs 188.85 on 13 July 2016. 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 12 July 2016, rising 13.95% compared with 4.40% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.41% as against Sensex's 10.59% 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 that its wholly-owned subsidiary situated in Sri Lanka bagged order worth $10.36 million from High Commission of India Colombo. The order calls for construction and completion of Cultural Centre at Jaffna. Jaffna is the capital city of the Northern Province of Sri Lanka.

On consolidated basis, RPP Infra Projects' net profit rose 39.84% to Rs 6.81 crore on 22.54% decline in net sales to Rs 64.62 crore in Q4 March 2016 over Q4 March 2015.

RPP Infra Projects is engaged in business of infrastructure development such as highway roads, bridges, civil construction works, irrigation & water supply projects & power plant.

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