The stock settled at Rs 174, up 4% from its previous close. The counter clocked volumes of 265,000 shares on the BSE.
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(Updated at 0952hrs)
Jaihind Projects has surged 5% on orders of Rs 1,100 crore.
The stock opened at Rs 175 and soared 10% to a high of Rs 183. It is now trading with a decent gain of 5% at Rs 175. Around 45,000 shares have been traded on the BSE so far, as against a two-week daily average trade of 23,000 shares.
The company has bagged a contract for the execution of the water transmission system from Taif to Al Baha in Saudi Arabia. The contract is worth Rs 1,100 crore and has been awarded by Saline Water Conversion Corporation to a joint venture (JV) between Arabian Pipeline Projects and Jaihind.