Late in the evening yesterday, Om Metal Infraprojects informed the exchanges about receipt of a new order.

The company said that it has been awarded a works contract for Hydro Mechanical works package for modernization and renovation of Baira Siul hydro electric power station (3 X 60 MW) in Himachal Pradesh by NHPC Ltd.

The contract value is Rs.19.91 crore and this contract has to be executed in 28 months time period.

The company, with a market cap of Rs.420 crore, as at 30th Sept 2016 had an order book of Rs.838 crore. For Q2FY17, the company posted a 42% (YoY) drop in net profit at Rs.5 crore on a 81% rise in total income at Rs.66 crore. The higher outgo on operating expenses is what pulled down the bottomline.

The stock price is reacting positively to the order news, going up 11% at Rs.45.50. Its 62-week high is at Rs.63.70.