ARSS Infra up 20% as JV wins Rs 44 cr contract from Railways

Shares of ARSS Infrastructure Projects zoomed 20 per cent today after the company's JV won a Rs 44 crore order from the Indian Railways for earthwork in Odisha.
The stock soared 19.76 per cent to settle at Rs 69.70 on BSE. During the day, it jumped 19.93 per cent to Rs 69.80.
On NSE, it skyrocketed 19.91 per cent to end at Rs 69.55.
On the volume front, 13.74 lakh shares of the company were traded at BSE and more than 37 lakh shares changed hands at NSE during the day.
"This is to intimate that a work order amounting to Rs 44.04 crore namely Jagdalpur-Koraput doubling project execution of earthwork in formation, minor bridges, protection works and other allied works... Is awarded by East Coast Railway," ARSS Infrastructure Projects had said in a BSE filing on Saturday.

It said the award has been given in favour of one of its joint ventures, ARSS-BMS.
The work is scheduled to be completed in 23 months.