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RPP Infra Projects shares surge on securing significant contracts

Investing.com
·1-min read

RPP Infra Projects, an infrastructure firm, witnessed a significant increase in its share price on Tuesday, hitting a 52-week high of ₹71.36. This surge followed the company's announcement that it has received orders totaling ₹482.37 crore. The shares were locked in a 5% upper circuit in early trade on Tuesday, with pending buy orders for 66,043 shares and no sellers on offer.

Among the substantial contracts secured by the company is a project from Chennai Petroleum Corporation Limited (CPCL). The contract, valued at ₹300.44 crore, involves executing road and drain works at CPCL's Nagapattinam facility in Tamil Nadu and is expected to be completed within a year.

In addition to this, the Defence Research&Development Organization has awarded RPP Infra Projects a contract for civil works and allied services related to an engine test facility at Rajankute, Karnataka. This contract, which also includes ancillary work for GRTE, is valued at ₹90.18 crores and has a completion timeline of 23 months.

RPP Infra Projects also won a contract worth ₹16.88 crore for constructing a storm water drain from Pon Subbiah Nagar to Loorthammalpuram Main Road in Tuticorin.

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Adding to this series of wins, Sun Construction-RPP (JV), a joint venture, received approval for a new project aimed at improving the Continuous Water Supply Scheme (CWSS) in Pudukkottai municipality along with three town panchayats and 15 wayside habitations in Pudukkottai district, Tamil Nadu. This project carries a value of ₹74.87 crore (INR100 crore = approx. $12 million).

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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