- Date : 06/07/2023
- Read: 3 mins
RPP Infra Projects soars to a 52-week high of Rs 66.07 and secures orders worth Rs 289.30 crore.
- RPP Infra Projects reach a 52-week high on strong performance.
- Secured orders worth Rs 289.30 crore in Tamil Nadu.
- An impressive order book of Rs 3,240 crore showcases growth potential.
- A new project for flyover and underpass construction in Tamil Nadu.
- Contract for the eco-Restoration of Vandiyur Tank in Madurai City.
- Contracts secured for water supply systems in various town panchayats.
RPP Infra Projects, an esteemed infrastructure company, witnessed a remarkable surge as its share price reached a 52-week high of Rs 66.07. This significant milestone was achieved following the announcement of securing orders worth Rs 289.30 crore in Tamil Nadu.
The order book of RPP Infra Projects, as of June 30, stood at an impressive Rs 3,240 crore, underscoring the company's robust pipeline and growth potential.
The latest achievement of securing a letter of acceptance for a new project further reinforces RPP Infra Projects' reputation. This upcoming venture involves rectifying a "black spot" by constructing a three-lane additional flyover at Uthamasolapuram, along with a vehicular underpass at a different location on the Salem-Kumarapalaym section of NH-544 in Tamil Nadu. The contract for this endeavour is valued at Rs 106.65 crore, including GST, and is expected to be completed within 12 months.
Furthermore, RPP Infra Projects has been entrusted with the task of undertaking ECO-Restoration/Rejuvenation and beautification of Vandiyur Tank in Madurai City Municipal Corporation. With a contract price of Rs 41.15 crore, inclusive of GST, the company is determined to enhance the aesthetics and functionality of this important water body within a timeframe of 18 months.
In addition to these projects, RPP Infra Projects has secured contracts from various town panchayats, including Odugathur, Pallikonda, Othakkalmandapam, Kannampalayam, and Nilakkottai. These contracts, valued at Rs 122.37 crore, inclusive of GST, will improve water supply systems and provide house service connections to local communities.
The bottom line
The commendable growth exhibited by RPP Infra Projects has positively impacted its stock performance. As of 9:30 am, the company's shares were quoting at Rs 65, reflecting an increase of Rs 7.74, or 13.52% on the Bombay Stock Exchange (BSE).
Additionally, as per Trendlyne data, RPP Infra Projects' stock price has witnessed a notable surge on the technical front. Over the past year, the stock price has experienced remarkable growth of 82.6%, surpassing its sector by an impressive margin of 28.2%.
RPP Infra Projects' recent achievements and robust order book demonstrate its competence and strategic positioning in the infrastructure sector.
Find the latest articles on stocks here.