Penny Stock Under Rs 55 Hit Upper Circuit After Bagging Order Worth Rs 16,31,01,477 From Indore Municipal Corporation
The stock’s 52-week high is Rs 141 per share and its 52-week low of Rs 47.25 per share.
V.L. Infraprojects Limited announced the receipt of a significant work order from the Indore Municipal Corporation, Indore (M.P.). The order, valued at Rs. 16,31,01,477 excluding GST, is for the replacement of a 1400 mm diameter gravity main pipeline running from the intake well to the water treatment plant, including all necessary miscellaneous and allied civil works. This project addresses the need to replace the existing, defective pipeline to ensure efficient water delivery. The key details of the order include the awarding entity being the Indore Municipal Corporation. The core scope of work involves replacing the 1400 mm diameter gravity main pipeline. The project is expected to be completed within six months.
V.L. Infraprojects Ltd (VLIPL), incorporated in 2014, is an ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified company engaged in construction, laying, and commissioning contracts for various infrastructure projects, primarily focused on irrigation and water supply. VLIPL executes water supply and sewerage infrastructure projects, including pipe procurement, laying, joining, and commissioning, along with related civil engineering works such as constructing pumping stations and installing electro-mechanical equipment.
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Their services encompass all aspects of road construction, irrigation, water infrastructure, and environmental projects, also offering operations and maintenance services for water distribution pipelines. The company's EPC operations are divided into verticals including water pipeline construction, irrigation projects, road construction, and building construction.
On Tuesday, the shares of V.L. Infraprojects Limited hit a 5 per cent upper circuit to Rs 54.80 per share from its previous closing of Rs 53.75 per share. The stock’s 52-week high is Rs 141 per share and its 52-week low of Rs 47.25 per share.
Disclaimer: The article is for informational purposes only and not investment advice.