RPP Infra Projects gains on deal with China's HUNAN Construction

HUNAN will act as a lead partner of the JV HUNAN - RPP Joint Venture

Shares of RPP infra Projects were up over 2% at Rs 114 on the Bombay Stock Exchange after the company said it has signed a definitive agreement with one of the largest China's state-owned company, HUNAN Construction Engineering Group Corporation (HCEGC) for infrastructure projects in India.

The joint venture to act in collaboration with each other under the name and style of HUNAN - RPP Joint Venture. HUNAN will act as a lead partner of the joint venture to make all necessary statement on behalf of joint venture, RPP Infra Projects said in a release.

HCEGC has developed comprehensive capabilities of building & installation, road & bridge construction, survey & design, scientific research, equipment manufacturing & real estate development, the release added.
 

The stock opened at Rs 112.50 and touched a high of Rs 121. At 12:16pm, over 245,000 shares were traded on both the stock exchanges.