The shares of this construction company hit a 2 percent upper circuit after receiving orders from RITES Ltd, Tamil Nadu Water Supply and Drainage Board, and more worth Rs. 133.48 crores.
With a market capitalization of Rs. 367 crores, the shares of R.P.P Infra Projects Ltd opened Thursday‘s trading session on a higher note at Rs. 98.15 compared to its previous close at Rs. 96.15. The share hit a 2 percent upper circuit at Rs. 98.15 which is also recorded as the company’s fresh 52-week high.
Such a bullish movement was observed after the company in an exchange filing mentioned that it had received multiple orders from the Government company worth approx. 133.48 Crores.
The company informed that it received an order from RITES Ltd worth Rs. 80.85 crores for Supplying, Fabricating, and erecting Structural Steel works including roofing for Pre-Engineered Buildings and workshops for the proposed BMRCL Metro. The period by which the order will be executed is 9 months.
Furthermore, another order from Tamilnadu Water Supply and Drainage Board, Madurai worth Rs. 29.75 crores for Providing additional sources under Retrofitting of Ramnad CWSS covering 5 Municipalities, 11 Town Panchayats and 3163 Rural Habitations in Ramanathapuram, Sivagangai and Pudukottai Districts for the Construction for 12 Months and Operation and Maintenance for 60 Months.
In addition to this, the company also bagged an order from Chief Engineer TWAD, Thanjavur for the Operation and Maintenance of the CWSS in 3 Nos. of Thiruvarur District including repair and rectification works and supply of chemicals for three years.
Looking at the financial statement, the revenue increased by 37 percent from Rs. 24.2 percent during the June quarter to Rs. 37.2 crores in the September quarter. Moreover, the net profit was magnified by 63 percent from Rs. 10.44 crores to Rs. 17.03 crores during the same quarter.
According to the latest shareholding pattern, Promoters have a 51.29 percent stake in the company and the remaining 48.71 percent are with the Retail Investors.
The shares of this company have delivered multi-bagger returns to its investors. In just 6 months the company has managed to give a 129 percent return.
For example, if someone had invested Rs. 1 lakh six months ago in this company, the worth of those shares would be around Rs. 2.29 lakh now.
Headquartered in Tamil Nadu, the company was incorporated in the year 1995. The company is engaged in the business of infrastructure development such as Highways, Roads, and Bridges. The company provides integrated engineering, procurement, and construction services for civil construction and infrastructure projects.
Written By Vaibhav Patil
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