R P P Infra Projects hits 5% upper circuit on winning ₹1.43-crore order

R P P Infra Projects shares hit a 5 per cent upper circuit on Friday at ₹130.25 per share on BSE, after the company received a letter of acceptance for a new work order

R P P Infra Projects shares hit a 5 per cent upper circuit on Friday at ₹130.25 per share on BSE. At 11:54 AM, R P P Infra Projects shares were trading 4.8 per cent higher at ₹130 per share. In comparison, BSE Sensex was down 0.32 per cent at 80,929.76. 

Why were R P P Infra Projects shares surging in trade? 

The northward movement in the stock came after the company received a letter of acceptance for a new work order. 

 

Under the contract, the company will supply, test, commission, and certify one Kone elevator in the service building at NNTPS. The contract is worth around ₹1.43 crore and has to be executed within 18 months. 

 

 

"We inform you that M/s Rpp Infra Projects Limited has been received letter of acceptance for a new work order Supply, Erection, Testing, Commissioning and Certification of 1 Number of Kone make stretcher cum passenger Elevator for service building including civil and Electrical work in NNTPS," the filing read.  

 

That apart, recently, the company secured a new order worth ₹365.85 crore under the Jal Jeevan Mission, the company informed exchanges on Thursday. The letter of acceptance (LoA) for the project was received on July 10.

 

The work will be executed by a joint venture named RPP-BCC IV, in which RPP Infra is the lead member, holding a 51 per cent stake. 

 

The contract involved retrofitting work to provide water supply through Functional Household Tap Connections (FHTCs) in 202 main habitations and 355 other habitations across Ajmer Rural, Arain, and Silora blocks in Rajasthan’s Ajmer district. The project, sourced from the Bisalpur Dam System, also includes operation and maintenance services for a period of 10 years. 

About RPP Infra Projects 

RPP Infra Projects is a construction company primarily engaged in the business of infrastructure development, such as highways, roads and bridges. The company provides integrated engineering, procurement and construction services for civil construction and infrastructure projects. IT has diversified its civil works expertise into SEZ development, water management projects irrigation and power projects.