RPP Infra Projects Ltd shares gained 4% in early morning trade on Friday after the company announced a fresh work order from the Maharashtra State Infrastructure Development Corporation Limited (MSIDC). The order is for the improvement of the Matheran–Neral–Kalamb road in Karjat, Raigad district, with a total contract value of ₹134.21 crore.
According to the company’s filing, the Letter of Acceptance (LOA) in hard copy was received yesterday, formally confirming the project. The scope of work includes the upgrade and enhancement of the stretch from SH-109 Km 0/00 to 20/400 and the Lobhyanchiwadi–Sugve–Pimpaloli–Neral road MDR 104 Ch. 3/00 to 14/00. The project is expected to be completed within 12 months, aiming to provide smoother connectivity and safer travel for commuters in the region.
RPP Infra further clarified that this order comes under domestic contracts and does not involve any related party transactions. The promoters and their affiliates also have no interest in the awarding entity.
RPP Infra shares were up 1.55% at ₹153.75 apiece around 9.36 am. It has jumped 22.34% this year, so far.
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