RPP Infra at new high

RPP Infra opened today with a slight gap but soon rose almost 12.5% to hit a new 52-week high at Rs.83.65. Volumes were up over 4x.

The stock price reacted to its announcement today morning that it has received four orders worth Rs.1000 crore.

The orders are:

1: Tamilnadu Water Supply & Drainage Board(TWAD):

Jal Jeevan Mission for 2020-21, Period of completion: 18 months, Trial Run: 6 months and Paid maintenance: 12 months at a contract price of Rs.131 crore.

2: Highways Department of Chennai – upgrading two stretches as part of the Chennai-Kanyakumari Industrial Corridor Project at a total contract price of Rs 5589 crore.

3: Greater Chennai Corporation —Strom Water Drain Department order worth Rs.187 crore

4: Water Resource Department (WRD)Tamil Nadu: Extension, Renovation and Modernisation of Lower Bhavani Project Main canal worth Rs.123 crore.

The company said that it now has an outstanding Order book of Rs. 3,200 crore and this order book would result in improved financials of the company.