Kridhan Infra rose 3.90% to Rs 93.30 at 11:13 IST on BSE after the company announced that its associate company Vijay Nirman Company has won a new order worth Rs 180 crore.
The announcement was made after market hours yesterday, 11 June 2018.Meanwhile, the S&P BSE Sensex was up 183.30 points, or 0.52% to 35,666.77.
On the BSE, 40,000 shares were traded in the counter so far compared with average daily volumes of 42,000 shares in the past two weeks. The stock had hit a high of Rs 105 and a low of Rs 92.80 so far during the day. The stock hit a record high of Rs 142 on 5 January 2018. The stock hit a 52-week low of Rs 68 on 28 June 2017.
This order encompasses structural work for connectivity to the Visakhapatnam Port Road in Andhra Pradesh. The Rs 180 crore order is to be completed within 15 months.
Kridhan Infra (KIL) currently owns approximately 41% stake in Vijay Nirman Company (VNC) and hence, VNC operates as an associate company of KIL.
Kridhan Infra's proforma order book after consolidation of VNC in India and Swee Hong in Singapore, stands at Rs 3200 crore as on 31 March 2018, of which, VNC contributes to almost 80%.
On a consolidated basis, net profit of Kridhan Infra declined 85.33% to Rs 3.39 crore on 2.85% decline in net sales to Rs 177.16 crore in Q4 March 2018 over Q4 March 2017.
Kridhan Infra is an infrastructure solutions company. The company is one of the pioneers in introducing the concept of ready-to-use steel for the construction industry in India.
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