RPP Infra Projects stock up 4% on order win from Avadi City Municipal Corp

RPP Infra Projects stock soars: Shares of RPP Infra Projects gained as much as 4.20 per cent to hit an intraday high of Rs 221.85 per share on Friday, August 30, 2024. 

The uptick in RPP Infra Projects shares came after the company announced that it has secured an order worth Rs 55.50 crore. 

In an exchange filing, RPP Infra Projects said, “We inform you that RPP Infra Projects has been received letter of acceptance for a new projects - Tamil Nadu Climate Resilient Urban Development Plan(TNCRUDP) “Amrut 2.0" Providing 24x7 water supply to the pilot water zones Avadi City Municipal Corporation and improvement of existing water supply distribution system for Avadi City Municipal Corporation along with left out areas including operating & maintenance of 5 years for a contract value of Rs 55.50 (inclusive GST). We have received the letter of acceptance today.”

The company will be responsible for providing 24x7 water supply to the pilot water zones Avadi City Municipal Corporation and improvement of the existing water supply distribution system for AvadiCity Municipal Corporation along with left out areas including operating & maintenance of 5 years.

The order needs to be executed in 2 years or 24 months, the company said. 

RPP Infra Projects Limited is an infrastructure and construction company, focussing on a wide range of projects including roads, urban infrastructure, and irrigation. The company undertakes major initiatives in the roads sector, such as the Bharat Mala and Pradhan Mantri Gram Sadak Yojana. 

In urban infrastructure, RPP Infra Projects is involved in high-profile schemes like Swachh Bharat, Smart Cities, and metro rail systems. Their work in irrigation and river linking focuses on enhancing agricultural productivity by improving water distribution across India's cultivated lands.

With a growing footprint in South India, RPP Infra Projects is actively engaged in Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana.

The market capitalisation of RPP Infra Projects is Rs 830.71 crore, according to Bombay Stock Exchange (BSE).

The 52-week high of RPP Infra Projects is Rs 235.45 per share while its 52-week low is Rs 62.55 apiece. 

At 11:20 AM, shares of RPP Infra Projects were trading 3.92 per cent higher at Rs 221.25 per share. In comparison, BSE Sensex was trading 0.29 per cent higher at 82,369.92 levels.