Valecha locked on upper circuit

Valecha Engineering is locked on the 5% upper circuit at Rs.36.75 the moment is opened for trading, with almost two times surge in volumes.

The stock hit the ceiling after the company announced that it has bagged two orders worth Rs.133 crore. Of this, Rs.59 crore order is for construction and designing of flyover at Pune and the other order worth Rs.74 crore is for a pilling project. The company has said in the statement issued to the Stock Exchanges that it is now focusing on getting an appropriate project mix involving leading edge infrastructure technologies and will achieve a de-risked business model and increase operational growth.