Shares of this company climbed 20 per cent after securing a government order worth Rs 1,170 crore!
The company has a strong reputation in providing EPC solutions for designing and constructing dams, hydropower plants, and irrigation projects.
The optimism in the US and Asian markets was reflected in the robust start made by the domestic indices on Monday. All sectors were trading in the green with BSE IT and BSE Teck leading the way with gains of 3 per cent each. Stocks in the real estate and infrastructure sectors also saw modest gains. The biggest gainer on BSE was Om Infra Ltd, whose shares locked in the 20 per cent upper circuit at Rs 36.60 per share.
Its scrip rallied after the company announced that it has, in a joint venture, received a letter of acceptance from Brihanmumbai Municipal Corporation for the work of design, build, operation & maintenance of Bhandup Wastewater Treatment Facility under ‘Mumbai Sewage Disposal Project’ for a total consideration of Rs 1,170 crore. The contract period for the subject work is 48 months for design & build and a further 15 years of operation as well as maintenance.
One of the best engineering & construction firms, Om Infra Ltd has a strong reputation and a wealth of experience in providing EPC solutions for designing & constructing dams, hydropower plants, and irrigation projects. It has completed more than 60 civil as well as hydro-mechanical projects on national and international levels.
Keep a close eye on this scrip for the upcoming sessions.