RPP Infra Projects surges 10% on tie up with overseas cos

Shares of RPP Infra Projects have zoomed around 10% to Rs 135 on the National Stock Exchange (NSE) after the company tied-up with China’s Hunan Construction Engineering and UK based Delamore & Owl Group of Companies. CLICK HERE FOR FULL REPORT

These companies intend to work in unison to develop and fund various infrastructural projects pan-India and neighbouring countries. In a filing to BSE, the Chennai-based RPP Group mentioned that they would supply the documentation for registration with contract principal incurring expenditure in project orientation phase.

Mr Arul Sundaram, chairman and managing director of RPP Infra Projects said that with this agreement, the company can reach to greater heights in terms of turnover and profits.

The stock opened at day’s high, quoting Rs 146 on the BSE. At 2PM, a combined total of 104,662 shares changed hands on the counter of NSE and BSE.