RPP Infra Projects rose 6.49% to Rs 91.10 at 11:24 IST on BSE after the company said it bagged new order worth Rs 55.20 crore for rural electrification work in Uttar Pradesh.
The announcement was made during trading hours today, 15 September 2014.
Meanwhile, the BSE Sensex was down 207.19 points, or 0.77%, to 26,853.85.
On BSE, so far 32,000 shares were traded in the counter, compared with an average volume of 27,487 shares in the past one quarter.
The stock hit a high of Rs 102 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 84 so far during the day. The stock hit a 52-week low of Rs 39.10 on 18 December 2013.
The stock had outperformed the market over the past one month till 12 September 2014, rising 14.07% compared with 4.56% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 4.20% as against Sensex's 5.81% rise.
The small-cap company has an equity capital of Rs 22.60 crore. Face value per share is Rs 10.
RPP Infra Projects said it won a contract for rural electrification work in villages of Baghpat district in Uttar Pradesh under Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) 12th plan, for a total value of Rs 55.20 crore.
Arul Sundaram, CMD, RPP Infra Projects, said: "We are receiving many work orders from the inception of financial year 2014-15. I hope that it will lead to enhance our company's turnover and profit in this fiscal year. RPP Infra Project is looking some of the projects with high value from Government and private concern."
On 10 September 2014, RPP Infra Projects announced bagging an order worth Rs 89.47 crore for constructing scientific storage godowns in Tamil Nadu Civil Supply Corporation (TNCSC) campus at Thanjavur and Nagapattinam in Tamil Nadu.
On a consolidated basis, RPP Infra Projects' net profit fell 2.3% to Rs 2.98 crore on 25.4% decline in net sales to Rs 47.10 crore in Q1 June 2014 over Q1 June 2013.
RPP Infra Projects is engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plants.
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