Valecha Engineering surges on fresh orders worth Rs 398 crore

The orders are for upgradation of NH-43 and rail flyover at Kurla, suburban Mumbai

Shares of Valecha Engineering were up nearly 8% at Rs 32.70 on the Bombay Stock Exchange after the company announced that it has received fresh orders worth Rs 398.03 crore.

The first order is for the rehabilitation and upgradation of NH-43 in the State of Chhattisgarh under NHDP-IV on EPC basis worth Rs 308.77 crore, the company said in a release.

The second order is for the construction of rail flyover for harbour line at Kurla in connection with Mumbai CST-Kurla 5th and 6th lines project worth Rs 89.26 crore, the release added.

The stock opened at Rs 32.20 and touched a high of Rs 33.45. At 10:40am, over 820,000 shares were traded on both the stock exchanges.