RPP Infra Projects was locked at 20% upper circuit at Rs 60.40 at 11:42 IST on BSE after the company said it has recently secured few contracts in Tamil Nadu, taking the company's order book to Rs 650 crore.
The company announced the new orders during trading hours today, 6 January 2014.
Meanwhile, the S&P BSE Sensex was down 52.19 points or 0.25% at 20,799.14.
On BSE, so far 1.10 lakh shares were traded in the counter as against average daily volume of 13,352 shares in the past one quarter.
The stock's price of Rs 60.40 is its 52-week high for the counter. The stock hit a low of Rs 54 so far during the day. The stock had hit a record low of Rs 31.75 on 6 August 2013.
The stock had outperformed the market over the past one month till 3 January 2014, surging 14.56% compared with the Sensex's 0.02% fall. The scrip had also outperformed the market in past one quarter, jumping 25.87% as against Sensex's 4.77% rise.
The small-cap infrastructure company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.
RPP Infra Projects said it has recently won the contract for construction of scientific godown measuring 38,000 MT capacity for TNCSC (Tamil Nadu Civil Supplies Corporation) Cap Storage Campus at Punalkulam in Pudukottai District, Tamil Nadu at a value of Rs 28.50 crore and smaller godowns across Tamil Nadu for an additional value of Rs 17 crore.
RPP Infra Projects said it has also recently won a contract for "Construction of Boundary Wall (Balance) for MSEZ-Package 2" from Mangalore Special Economic Zone (MHZ) in Mangalore for a contract value of Rs 8.15 crore. RPP Infra Projects was earlier awarded the construction of MSEZ project for a value of Rs 32 crore. The company had successfully completed Rs 19 crore.
RPP Infra Projects said it is currently executing the projects like "Strengthening of Contour Canal in Parambikulam and Aliyar in Tamil Nadu", the township project for NTPC and TNEB in Vallur, Northern Chennai are under progress.
The company is currently executing projects in Bhel, Trichy, Chennai Corporation and Mangalore Refineries, Managlore.
With these new orders the current order book of RPP Infra Projects is standing at Rs 650 crore, the company said in a statement.
RPP Infra Projects subsidiary company in Sri Lanka, RPP Infra Projects (Lanka), has successfully completed the Housing project for Internally Displaced People (IPDs) in Sri Lanka. The Project was executed in Vavunia, Mullaitheeveu, Kilinochchi, Mannar and Jaffna districts of Northern Province in Sri Lanka. Hindustan Pre-Fab (HPL) a Government of India subsidiary was executing the project.
Mr. Arul Sundaram, CMD, RPP Infra Projects said, "The infrastructure companies are being faced with turbulent times, however with the recovering global economy and innovative construction methodology, we believe this year would be a revival for the infra companies, with adequate government support Indian companies would be able to garner maximum projects from around the world. Several national and state projects is expected which would fuel the growth of the sector. RPP Infra Projects is well poised to gain maximum projects from both domestic and international market".
RPP Infra Projects' consolidated net profit galloped 1210.8% to Rs 4.85 crore on 11.2% decline in net sales to Rs 58.76 crore in Q2 September 2013 over Q2 September 2012.
RPP Infra Projects in engaged in execution of civil construction projects across various segments of construction and infrastructure industry. The company has diversified its civil work expertise into SEZ development, water management projects, irrigation and power projects. It is doing business in the south Indian region covering Karnataka, Andhra Pradesh, Tamil Nadu and the Union Territory of Andaman Nicobar Islands.
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