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Business News/ Markets / Stock Markets/  RPP Infra share price hits 52-week high, locked in 5% circuit on 482.37 crore order win
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RPP 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.

RPP Infra Projects share price opened at ₹71.36 apiece on BSE on Tuesday.Premium
RPP Infra Projects share price opened at 71.36 apiece on BSE on Tuesday.

RPP 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.

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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. 

Also Read: Tata Steel share price rises 2% as Moody's upgrades Tata Steel's corporate family rating to Baa3, outlook stable

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. 

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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.

Also Read: RPP Infra Project share price hits 52-week high, gains over 14% on 289.30 crore order win


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Updated: 26 Sep 2023, 10:53 AM IST
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