BackRPP Infra share price hits 52-week high, locked in 5% circuit on ₹482.37 crore order win
RPP Infra share price hits 52-week high, up 5% on new order win worth ₹482.37 crore.
PremiumRPP Infra share price touched 52-week high and was locked in 5% upper circuit on Tuesday's session after the company bagged new orders worth ₹482.37 crores. RPP Infra Projects share price opened at ₹71.36 apiece on BSE.
The company received a letter of acceptance for three new projects: Road and Drain Works-1 for CBR Project of CPCL at Nagapattinam, Tamilnadu at a contract price of ₹300.44 crores, and the order will be executed in 12 months.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
Provision of Civil Works and Allied Services for Engine Test Facility along with Ancillary Work for GRTE at Rajankute, Bengaluru, Karnataka at a contract price of ₹90.18 crore, the order will be completed in 23 months.
Further, Thoothukudi Corporation - Construction of Storm Water Drain from Ponsubbiah Nagar to Loorthammalpur Main Road package 4 under ADB Tamilnadu Urban flagship investment Program-tranche 3 at a contract price of ₹16.88 crore, which will be executed in 12 months, according to the exchange filing.
The company in its filing also stated that a letter of approval for a new project, Twad- Improvement CWSS to Pudukkottai municipality, three town panchayats, and 15 wayside habitations in Pudukkottai district, Tamil Nadu, has been received by Sun Construction-RPP (JV). The project has a value of ₹74.87 crore.
On the technical front, RPP Infra stock price rose 77.7% and outperformed its sector by 25.2% in the past year.
Also Read:Nifty 50, Sensex today: What to expect from stock market indices in trade on September 26
According to analysts, RPP Infra stock price have experienced a significant increase with a 5% surge right at the opening on hitting upper circuit.
“Despite breaking out of the recent congestion zone, there is a notable lack of trading volume in this particular stock. Generally, it's advisable to steer clear of stocks that are trading in circuits with low volume. However, from a technical standpoint, considering the price breakout, there is a potential for the uptrend to extend towards the 79 mark. It's worth noting that a bullish gap established at 68, which could serve as a support level going forward," advised Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
