Subhash surges on Rs 492-cr order

Shares of Subhash Projects rose 13.8 per cent to close the day at Rs 53.20, after the company bagged an order worth Rs 492 crore from a Mumbai suburban municipal corporation. The company has been awarded this contract under design, build and operate basis for underground sewerage scheme.

The scope of project includes sewage collection and conveyance system, sewage pumping stations, treated sewage outfalls and miscellaneous items. The stock made an intraday high of Rs 54.9 and a low of Rs 47 with trading volumes of 405,000 shares (about six times higher than its two-week average).