SPML Infra soars 20% on winning orders worth Rs 800 crore

The company secured new orders worth Rs 461 crore order of 3 package from Power Grid

SPML Infra has soared 20% at Rs 66.95 on the BSE in intra-day trade after the company announced that it has secured new orders approximately of Rs 800 crore for power substation, rooftop solar power plant, water & wastewater treatment and municipal solid waste management projects from different states of India.

The company’s power substation business has received orders worth Rs 591 crore, include Rs 461 crore order of 3 package from Power Grid Corporation of India for 16 numbers of substations/substation extensions of 132/33/11 kv in Tripura under North East Region (NER) power system improvement project.

The water & wastewater treatment business has received orders worth of Rs 121 crore, while municipal solid waste management business bagged order amounting of Rs 60 crore and Rs 22 crore from rooftop solar power business.

At 11:28 am; the stock was up 17% at Rs 65.50 on the BSE on back of heavy volumes. A combined 1.42 million shares changed hands on the counter so far against an average sub 100,000 shares that were traded daily in past two weeks on the BSE and NSE.