SPML Infra Limited shares hit 5% upper circuit after the company signed an agreement with the Water Resource Department, Hazaribagh, for a significant irrigation project under the Konar Irrigation Scheme. This turnkey project, valued at ₹617.98 crore (approximately USD 70.90 million), is being executed in collaboration with Vijay Kumar Mishra Construction. It aims to enhance irrigation facilities across 12,599.43 hectares of farmland in Bisnugarh (Hazaribagh), Nawadih (Bokaro), and Dumri (Giridih) in Jharkhand.
The project focuses on upgrading irrigation infrastructure by reconstructing, repairing, and reinforcing the main canal, right branch canal, and their subsidiary water channels. It also includes the construction of an approach channel, canal lining, a solar-powered pump house cum sump, and a pressure pipe-based water distribution system. A modern pipeline network, featuring MS, DI, and HDPE pipes of up to 1200 mm in diameter, will be installed with an advanced pipe distribution system (PDN) for efficient water management. Additional civil works, including boundary walls, approach roads, and service roads, are also part of the development.
To ensure long-term sustainability, SPML Infra will oversee the project’s operation, maintenance, and management for a decade after construction. This initiative is expected to significantly improve irrigation capacity, boost agricultural productivity, and contribute to the economic growth of the region.
SPML Infra shares opened at ₹175.00, reaching a high of ₹176.00 and a low of ₹168.00 during the session. The stock’s 52-week high stands at ₹302.90, while the low is ₹92.60.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
