Kridhan Infra rose 4.13% to Rs 45.35 at 10:47 IST on BSE after the company announced that its associate company Vijay Nirman Company has secured new civil construction work worth Rs 167 crore.
The announcement was made after market hours yesterday, 25 October 2018.Meanwhile, the S&P BSE Sensex was down 53.47 points, or 0.16% to 33,636.62.
On the BSE, 6791 shares were traded in the counter so far compared with average daily volumes of 13,000 shares in the past two weeks. The stock had hit a high of Rs 46 and a low of Rs 44.55 so far during the day.
The stock hit a 52-week high of Rs 142 on 5 January 2018. The stock hit a 52-week low of Rs 41 on 1 October 2018.
Vijay Nirman Company (VNC) has secured the work for construction of minor bridges, culverts, ROB and other associated elements included in Purvanchal Expressway (Package - V) development contract. VNC's work on this project is expected to be completed over a period of 15 months from the date of start i.e. 25 November 2018.
On a consolidated basis, Kridhan Infra's net profit rose 35.17% to Rs 14.49 crore on 4.09% increase in net sales to Rs 192.89 crore in Q1 June 2018 over Q1 June 2017.
Kridhan Infra is one of the pioneers in introducing the concept of ready-to-use steel for the construction industry in India.
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