RPP Infra Projects lost 2.21% at Rs 59.80 at 10:22 IST on BSE, with the stock sliding on profit booking after recent rally triggered by the company recently securing new orders in Tamil Nadu.
Meanwhile, the S&P BSE Sensex was up 54.35 points or 0.26% at 20,747.59.
On BSE, so far 3,115 shares were traded in the counter as against average daily volume of 17,004 shares in the past one quarter.
The stock hit a high of Rs 61.90 and a low of Rs 59.80 so far during the day. The stock had hit a 52-week high of Rs 63.80 on Tuesday, 7 January 2014. 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 7 January 2014, advancing 43.71% compared with the Sensex's 1.44% fall. The scrip had also outperformed the market in past one quarter, jumping 52.49% as against Sensex's 4.01% rise.
The small-cap infrastructure company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.
Shares of RPP Infra Projects had rallied 21.44% in two trading sessions to settle at Rs 61.15 on Tuesday, 7 January 2014, from a recent low of Rs 50.35 on 3 January 2014 after the company during trading hours on Monday, 6 January 2014 said it has recently secured few contracts in Tamil Nadu, taking the company's order book to Rs 650 crore.
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 for Bhel in Trichy, Chennai Corporation and Mangalore Refineries in 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' 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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