As of 9:25 AM today, RBM Infracon Limited (RBMINFRA) is trading at ₹800.50, up ₹38.10 or 5% from the previous close.
The surge in stock price comes after the company announced that it has secured a significant service order worth ₹3,498 crore from Oil and Natural Gas Corporation Limited (ONGC). The order, dated September 6, 2024, pertains to various projects and has a validity period of 15 years.
This new contract is expected to enhance RBM Infracon’s revenue streams and strengthen its position in the engineering and construction sector, particularly in oil and gas. Investors are optimistic about the implications of this order, which could lead to increased operational capacity and financial performance for the company in the coming years.
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RBM Infracon