RPP Infra Shares Rise on Rs 217.61 Crore Maharashtra Order

17 Oct 2024 CW Team

RPP Infra Projects shares hit a 5% upper circuit on the BSE after reaching an intraday high of Rs 195.85 per share. However, by 1:07 PM, the stock pared some gains and traded up 4.53% at Rs 195 per share, while the BSE Sensex was down 0.37% at 81,672.34.

The stock rally was driven by news that RPP Infra secured an order worth Rs 2.18 billion for road improvement works between Kothore and Wakadi in Jalgaon, Maharashtra. The order was awarded by the Chief Engineer, Konkan & Project Director, Mumbai, with a two-year timeline for completion.

As of October 15, 2024, this new order boosts the company’s total order book to Rs 35.23 billion.

Prior to this, RPP Infra had secured a Rs 555 millioncontract for 24x7 water supply in Avadi City, Tamil Nadu, and a Rs 3.11 billion EPC contract for building a new district jail in Hapur, Uttar Pradesh. The company is involved in key infrastructure projects across India, focusing on roads, bridges, and urban infrastructure.

In the past year, RPP Infra shares have surged by 137.4%, significantly outperforming the BSE Sensex's 23% rise during the same period.

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