Shares of Subhash Projects & Marketing rose 5.82 per cent to Rs 49.1, after the company was awarded an Rs 585.98 crore order by the Andhra Pradesh government for the Pranahitha-Chevella lift irrigation scheme. The work includes investigating, designing and execution of water conveyor system.
The order will be executed by a joint venture with SEW Infrastructure and AMR Construction, in which Subhash holds 80 per cent stake. The stock made an intraday high of Rs 55.65 and a low of Rs 46.45 with trading volumes of 3.29 lakh shares (about 5.5 times more than its two-week average.)