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ARSS Infra hits the roof after order win

Capital Market 

ARSS Infrastructure Projects hit an upper circuit limit of 5% at Rs 34.75 at 14:10 IST on BSE after the company said one of its joint venture firms received a road contract worth Rs 429 crore.

The announcement was made after market hours yesterday, 27 February 2019.

Meanwhile, the S&P BSE Sensex was up 60.03 points, or 0.17% to 35,965.46.

On the BSE, 440 shares were traded in the counter so far compared with average daily volumes of 20,000 shares in the past two weeks. The stock hit a 52-week high of Rs 58.25 on 12 April 2018. The stock hit a 52-week low of Rs 17.80 on 20 July 2018.

ARSS Infrastructure Projects said that one of its joint venture, NPCC- ARSS, received an order worth Rs 429 crore from National Highways & Infrastructure Development Corporation on 26 February 2019 for widening and up-gradation to 2-lane with paved shoulder configuration and geometric improvements on Aizawl-tuipang section of NH-54 in Mizoram on engineering, procurement and construction (EPC) mode with JICA loan assistance.

ARSS Infrastructure Projects reported net profit of Rs 3.03 crore in Q3 December 2018 as against net loss of Rs 6.08 crore in Q3 December 2017. Net sales declined 16.74% to Rs 75.81 crore in Q3 December 2018 over Q3 December 2017.

ARSS Infrastructure Projects is a construction company, focusing on infrastructure construction segment including highways, buildings and railways.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 28 2019. 14:16 IST