52-week high alert: This civil construction company bags new order worth Rs 100.45 crore from the National Highway Authority of India (NHAI)
The stock is up by 76 per cent from its 52-week low of Rs 148 per share.
SRM Contractors Limited has been awarded a new project by the National Highway Authority of India (NHAI) for the construction of slope protection work along a 39.139 km stretch of the Parwanoo-Solan section of NH22 (now NH55) in Himachal Pradesh. The project will be undertaken through an EPC (Engineering, Procurement, and Construction) mode for a quoted amount of Rs 100.45 crore and is expected to be completed within 18 months.
Earlier, the company was awarded a project by the National Highway Authority of India (NHAI). It's an EPC project valued at Rs 278.48 crore for upgrading and strengthening a section of NH-244 in Jammu and Kashmir. The project will cover the Nashri-Chenani section from Km 0.00 to Km 39.100, via Patnitop, and is expected to be completed within 24 months.
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SRM Contractors Ltd, founded in 2008, is an engineering construction and development company focused on building roads (including bridges), tunnels, and stabilizing slopes, primarily in Jammu & Kashmir and Ladakh. They are ISO 9001:2015 certified and hold a Class A contractor registration with the Public Work (R&B) Department in Jammu & Kashmir. The company can bid on government-funded projects up to 30,000 lakhs for roads and bridges and 50,000 lakhs for tunnels (EPC contracts). They take on projects as an EPC contractor, on an item-rate basis, or through joint ventures with other construction companies. SRM Contractors Ltd also works as a subcontractor for major infrastructure companies like HCC Ltd, Gammon and Patel Engineering Ltd.
The company has a market cap of over Rs 500 crore with an ROE of 28 per cent and an ROCE of 28 per cent. Today, shares of SRM Contractors Ltd gained 2.5 per cent to Rs 260.50 per share. The stock also made a 52-week high of Rs 260.50 per share. The stock is up by 76 per cent from its 52-week low of Rs 148 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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