RPP Infra Projects surged 5.26% to Rs 150 at 11:30 IST on BSE after the company said it has recently received a contract worth Rs 45.80 crore from Karnataka Slum Development Board.
The new order was announced during market hours today, 19 February 2015.
Meanwhile, the S&P BSE Sensex was down 100.60 points or 0.34% at 29,219.66.
On BSE, so far 62,000 shares were traded in the counter as against average daily volume of 41,264 shares in the past one quarter.
The stock hit a high of Rs 152.40 and a low of Rs 142.50 so far during the day. The stock had hit a record high of Rs 179.70 on 4 February 2015. The stock had hit a 52-week low of Rs 56 on 21 February 2014.
The stock had underperformed the market over the past one month till 18 February 2015, declining 4.01% compared with Sensex's 4.26% rise. The scrip had also underperformed the market in past one quarter, sliding 0.94% as against Sensex's 4.11% rise.
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The small-cap infra company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.
RPP Infra Projects said it has been recently awarded a contract from Karnataka Slum Development Board for construction of 795 ground floor dwelling units in Krishnaraja Area, Mysore city under Rajiv Awas Yojana (RAY SCHEME) for Rs 45.80 crore. The said work is to be completed in 24 months, RPP Infra Projects said in a statement.
Mr. Arul Sundaram, CMD, RPP Infra Projects said that the company is well poised to garner a sizable share of growth in infrastructure sector in India in the coming days.
On consolidated basis, RPP Infra Projects' net profit rose 11.1% to Rs 4.59 crore on 14.5% growth in net sales to Rs 75.17 crore in Q3 December 2014 over Q3 December 2013.
RPP Infra Projects is engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plants.
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