Kridhan Infra spikes 5 per cent on back of new order

Kridhan Infra soared over 5 per cent in intraday trade on Tuesday after its associate company Vijay Nirman Company (VNC) was awarded a new project amounting to Rs 132.6 crore.

The order has been granted for the civil works of a fertilizer plant at Gorakhpur in Uttar Pradesh. The timeframe for executing the project is about 14 months.

Kridhan Infra owns about 41 per cent stake in VNC which has completed more than 400 projects in over 30 years of its operation.

As on March 31, 2018, Kridhan Infra’s order book after consolidation of VNC in India and Swee Hong in Singapore, stands at over Rs. 35 billion. VNC contributed almost 80 per cent of the total order book.

At 11:20 hours on Tuesday, Kridhan Infra was trading at Rs. 78.80 per share, up Rs 2.65 or 3.48 per cent on NSE. The stock opened at Rs. 78 per share from a previous close of Rs. 76.15 and touched an intraday high of Rs. 80.40 per share on NSE. So far, the stock has attracted a traded volume of 2,01,980 shares on NSE.