RPP Infra Projects rose 14.04% to Rs 89.75 at 13:55 IST on BSE after the company said it bagged an order worth Rs 89.47 crore in Tamil Nadu.
Meanwhile, the BSE Sensex was down 200.70 points, or 0.74%, to 27,064.62.
On BSE, so far 60,000 shares were traded in the counter, compared with an average volume of 24,821 shares in the past one quarter.
The stock hit a high of Rs 90 and a low of Rs 78.50 so far during the day. The stock hit a record high of Rs 100 on 4 June 2014. The stock hit a 52-week low of Rs 39 on 10 September 2013.
The stock had underperformed the market over the past one month till 9 September 2014, rising 3.42% compared with 7.64% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 7.47% as against Sensex's 6.59% rise.
The small-cap company has an equity capital of Rs 22.60 crore. Face value per share is Rs 10.
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RPP Infra Projects, engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plants, has won an order worth Rs 89.47 crore to construct scientific storage godowns in Tamil Nadu Civil Supply Corporation (TNCSC) campus at Thanjavur and Nagapattinam in Tamil Nadu.
The contract for constructing scientific storage godown of 39000 MT capacity in TNCSC campus at Chennampatti Village in Thanjavur Taluk and District is worth Rs 39.15 crore.
The contract for constructing scientific storage godown of 40,000 MT capacity (8 nos of 5000 MT) in Southern side in TNCSC campus at Kovilpathu Village in Vedaranyam Taluk, Nagapattinam District is worth Rs 50.31 crore.
Anil Sundaram , CMD, RPP Infra Projects, said: "Indian government has been undertaking various steps and introducing several incentives to encourage rapid infrastructure development in the country to accommodate and accelerate private investments in the infrastructure sector. RPP infra Project is well poised to gain maximum projects from both domestic and international market."
On a consolidated basis, RPP Infra Projects' fell 2.3% to Rs 2.98 crore on 25.4% decline in net sales to Rs 47.10 crore in Q1 June 2014 over Q1 June 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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