On Friday’s trading session, Indian stock market benchmarks, the Sensex and the Nifty 50, each plunged 1 percent in early trade due to an across-the-board selloff amid weak global cues.
The Nifty 50 opened at 24,789, compared to its previous close of 25,010.90, and quickly declined 1 percent to 24,751.10. Similarly, the Sensex opened at 81,158.99, down from its previous close of 81,867.55, and fell nearly 1 percent to 81,084.77.
Listed below are the companies that received orders of upto Rs. 28.50 crores:
ARSS Infrastructure Projects Ltd
With a market capitalization of Rs. 43.7 crores, the shares of this infrastructure company started Friday’s trading session higher note at Rs. 20.48, gaining around 2 percent compared to its previous close of Rs. 19.51 and are currently trading at Rs. 19.50 apiece.
According to the exchange filing, the company received a work order of over Rs. 20.25 crores from its joint venture company SCPL-ARSS (JV). The project involves executing various tasks for the Koraput-Singapur Road Doubling Project.
The project includes fabricating and installing structural and elastomeric bearings, composite girders, and associated steelworks.
As per the latest financial statements, the revenue increased by around 10 percent from Rs. 68 crores during the September quarter to Rs. 75 crores in the December quarter.
On the other hand, the net profits showcased a transition from a net profit of Rs. 2 crores to a net loss of Rs. 22 crores during the same timeframe. The company is yet to release the results for the March quarter.
Incorporated in 2000, ARSS Infrastructure Projects Ltd is in the business of project execution for various civil and infrastructure projects.
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Konstelec Engineers Ltd
With a market capitalization of Rs. 278 crores, the shares of this engineering company started Friday’s trading session on a flatter note at Rs. 182.50 compared to its previous close of Rs. 182.10. During the trading session, the shares hit a high of Rs. 187.90, gaining around 3 percent and are currently trading at Rs. 184 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had been awarded an order worth Rs. 28.50 crores for Electrical and Instrumentation work from Arcelor Mittal Nippon Steel India Limited at Surat, Gujarat. The work is scheduled to be executed within 18 months from the date of the LOI.
Looking at the company’s financial statements, the revenue jumped by 41 percent from Rs. 153 crores during FY22-23 to Rs. 215 crores in FY23-24. In addition, the net profits increased by around 13 percent from Rs. 8 crores to Rs. 9 crores during the same period.
Incorporated in December 1995, Konstelec Engineers Limited is in the business of Engineering, Procurement, and Construction/ Commissioning (EPC) contractors and is engaged in the business of offering a full range of EPC services in India and abroad.
Written By Vaibhav Patil
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