 "Ramky Infrastructure up 7% on securing orders of Rs 131 cr from Power Grid")
Ramky Infrastructure stock surges: Shares of Ramky Infrastructure (Ramky Infra) rallied as much as 7.27 per cent to hit an intraday high of Rs 603.65 per share on Thursday.
The surge in stock price came after the company announced that it has secured contracts worth Rs 131.19 crore from Power Grid.
In an exchange filling, Ramky Infrastructure said, “We are pleased to inform that the company has received Notification of Awards (NOA) from PowerGrid Energy Services Limited, a wholly owned subsidiary of Power Grid Corporation of India Limited, for "Supply of Plant Contract (Contract Part I)" and "Supply of Installation Services Contract (Contract Part II)" for "Loss Reduction work under Results-linked, Distribution Sector Scheme (RDSS) in Leh District under Implementation of Distribution of Infrastructure works of Ladakh Power Development Department (LPDD) under RDSS in the Districts of Leh & Kargil of UT of Ladakh.”
In the first order, KEC International has been awarded a contract worth Rs 107.39 crore for the supply contract of a plant under the RDSS for loss reduction work in Leh district. This project falls under the implementation of Distribution Infrastructure works by the Ladakh Power Development Department (LPDD) in Leh & Kargil districts of UT of Ladakh. The project is anticipated to be completed within 30 months.
In the second order, KEC International has secured a contract valued at Rs 23.80 crore. The scope involves installation services for loss reduction work under RDSS in Leh district as part of LPDD's Distribution Infrastructure works in Leh & Kargil districts of UT of Ladakh. Similar to the first order, this project is expected to be completed within a timeframe of 30 months.
Ramky Infrastructure Limited is involved primarily in infrastructure development and management. Established in 1994 and is headquartered in Hyderabad, the company operates in various segments of infrastructure development, including water and waste management, transportation (roads and highways), irrigation infrastructure, industrial parks, and power transmission.
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Ramky Infrastructure has undertaken numerous projects across India, contributing to the country's infrastructure development. They have been involved in building and managing roads, highways, water treatment plants, and urban infrastructure projects.
The market capitalisation of this SmallCap company is Rs 4,083.02 crore, according to Bombay Stock Exchange (BSE).
The 52-week high of the stock is Rs 1,008.90 per share while its 520-week low is Rs 365.55 apiece.
At 9:56 AM, shares of the company were trading 4.86 per cent higher at Rs 590.05 per share. By comparison, BSE Sensex was trading 0.03 per cent lower at 78,647 levels.