Infra stock engaged in the business of civil & defence design and construction activities hit a 5 percent upper circuit in the day’s trade upon receiving two work orders worth Rs. 407 Crores in the Andaman Nicobar Islands.
With a market capitalization of Rs. 201 Crores, the shares of RKEC Projects Limited hit a 5 percent in the day’s trade at Rs. 83.90.
RKEC Projects Limited has received 2 work orders, the first work order is worth Rs. 198.50 Crores for the rehabilitation, up-gradation, and completion of balance work of section from km 155.00 to km 181.00 of NH-4 to intermediate Lane/2- Lane with hard shoulders in the UT of Andaman & Nicobar Islands on EPC basis.
The second work order is worth Rs. 207.99 Crores for the Construction of Balance Works of a Major Bridge over Middle Strait Creek connecting South Andaman & Baratang Island in the Union Territory of the Andaman & Nicobar Islands.
RKEC Projects Limited is engaged in the business of civil & defence design and construction activities such as marine works, bridges, buildings, highways, oil and gas pipelines, and many more.
Its revenue from operations grew by 43.77 percent from Rs. 209 Crores in FY22 to Rs. 300 Crores in FY23, accompanied by increasing profits of Rs. 6 Crores to Rs. 12 Crores.
It has reported a return on equity (ROE) of 11.9 percent and a return on capital employed (ROCE) of 18.9 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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