ARSS Infra locks in upper circuit on order win

ARSS Infrastructure Projects clocked the upper circuit in Wednesday’s trading session after the company made a public notification on the stock exchanges that its subsidiary received work order in Arunachal Pradesh.

The company has informed that it, alongside its subsidiary, has received a work order of Rs 281.12 crores for the construction of 2 -Lane road of Potin to Pangin section of NH-13 from Km 0.00 to Km 44.35 (Package-1) in Arunachal Pradesh. The stated project comes under the Arunachal Pradesh Package of Roads and Highways of SARDP-NE (Tender ID No.2019 MoRTH_492540 1), which was awarded to one of its Joint Venture (JV) ARSS-Nabam Tullon LLP (JV) by the Office of Chief Engineer (Zone-V), Director General (RD) & Special Secretary, Government of India, Ministry of Roads Transport & Highways. The company also submitted a copy of the Letter of Acceptance (LoA) with its press release.

ARSS, even though it saw strong order inflow, failed to uplift the stock price, which tanked to its 52 Low in October 2019. The stock recently touched its 52 week low of Rs. 19 on BSE. Going ahead, realization from the orders across the segments is expected to be a key trigger for the stock.