RPP Infra Projects gains 4% on bagging Rs 232 crore order from Highways Department

RPP Infra Projects, on Tuesday, said its joint venture firm has bagged an order worth Rs 231.77 crore from Highways Department for Chennai Kanyakumari Industrial Corridor Projects. Soon after the announcement, the shares jumped by 4 per cent intraday.

The work order has been awarded to the joint venture RPP-RK, where the company holds 60 per cent of the shares and partner RK Infra Corp, holds 40 per cent of the shares, it added.

RPP Infra Projects said, with the work order, the company is on way to have an order book of Rs 2,000 crore.

The company added by saying that it has to execute these orders within a period of 24 months.

As of 1:09 PM, RPP Infra Projects’ stock was trading at Rs 69.50, up by Rs 2.10 or 3.12 per cent on NSE. It has touched an intraday high of Rs 70.30 and an intraday low of Rs 67.10.

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