Era Infra Engineering hit an upper circuit limit of 5% to Rs 3.45 at 12:13 IST on BSE after the company said it won a contract worth Rs 177.81 crore for rural electrification works in Uttar Pradesh.
The announcement was made after market hours yesterday, 13 October 2015.
Meanwhile, the BSE Sensex was down 35.24 points, or 0.13%, to 26,811.29.
On BSE, so far 46,000 shares were traded in the counter, compared with an average volume of 2.78 lakh shares in the past one quarter.
The stock opened with an upward gap of 5% at Rs 3.45 and remained stuck at that level so far. The stock hit a 52-week high of Rs 13.70 on 14 October 2014. The stock hit a 52-week low of Rs 1.75 on 8 September 2015.
The stock had outperformed the market over the past one month till 13 October 2015, rising 48.87% compared with 4.83% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 11.56% as against Sensex's 3.99% decline.
The small-cap company has an equity capital of Rs 66.32 crore. Face value per share is Rs 2.
Era Infra Engineering said it won an order worth about Rs 177.81 crore from the Government of India under the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) for rural electrification in blocks of Rampur and Sambhal in Uttar Pradesh on turnkey basis.
Era Infra Engineering reported net loss of Rs 135.36 crore in Q1 March 2015 as against net loss of Rs 247.19 crore in Q1 March 2014. Net sales rose 51.26% to Rs 516.77 crore in Q1 March 2015 over Q1 March 2014.
Era Infra Engineering develops infrastructures like industrial complexes, residential buildings, multiplexes and malls, etc.
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