RPP Infra Projects Shares Surge on the Back of New Contract Wins
RPP Infra Projects, a leading player in the infrastructure industry, has witnessed a surge in its share price on the Bombay Stock Exchange (BSE). The shares soared by 5% to hit the upper circuit after reaching an intraday high of Rs 195.85 per share. Investors cheered the news as RPP Infra secured a significant order worth Rs 2.18 billion for road improvement works in Maharashtra.
New Order Boosts Order Book to Rs 35.23 Billion
The Chief Engineer, Konkan & Project Director, Mumbai, awarded RPP Infra the aforementioned order, which includes the road improvement works between Kothore and Wakadi in Jalgaon, Maharashtra. The contract, with a timeframe of two years for completion, adds to the company’s already burgeoning order book that stands at Rs 35.23 billion as of October 15, 2024.
Diverse Portfolio of Infrastructure Projects
RPP Infra Projects has positioned itself as a key player in the infrastructure segment in India. The company is extensively involved in a range of projects, with a special focus on roads, bridges, and urban infrastructure. Prior to this latest contract win, the company had secured two other notable projects.
The first contract worth Rs 555 million was awarded for the supply of 24×7 water to Avadi City in Tamil Nadu. The project aims to enhance water supply systems and ensure round-the-clock availability of this vital resource. Furthermore, the company secured an EPC contract worth Rs 3.11 billion for the construction of a new district jail in Hapur, Uttar Pradesh.
Investors Benefit as RPP Infra Projects Outshines Sensex
Considering its recent performance, RPP Infra has proven to be a rewarding investment. Over the past year, the company’s shares have witnessed an astonishing surge of 137.4%. This growth significantly outpaces the 23% rise of the BSE Sensex over the same duration, indicating RPP Infra’s robust potential within the infrastructure sector.
By 1:07 PM, the stock had pared some of its gains but still registered an impressive increase of 4.53%, trading at Rs 195 per share. Meanwhile, the broader market witnessed choppy movement, with the BSE Sensex down 0.37% at 81,672.34. As RPP Infra Projects continues to secure major contracts and expand its order book, investors are confident in the company’s ability to drive growth and profitability in India’s evolving infrastructure landscape.
