CC Constructions shines post order win
Construction firm, C&C Constructions has won two new orders from Sultanate of Oman and Dedicated Freight Corridor Corporation of India Limited.
Ministry of Defence, Sultanate of Oman has awarded a contract to C&C Construction for design and construction of a connecting road between upper Surfeit & Sea to Surfeit for a total amount of US$ 15.38 million. Expected completion of this project is the end of FY20.
Apart from this, the company has won an order from Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL) worth Rs. 124.9 crore for construction of double line Rail Flyover including approach portion between Ganjkhwaja to Mughalsarai Railway Stations etc. The work is expected to get completed within 18 months from the date of issue of L0etter of Acceptance. The share of C & C in this JV order is 51 per cent.
The said order for small companies like C&C Construction (market cap of Rs. 54.5 crore) means a lot which also reflected in its stock price. The stock of C & C Construction in Tuesday’s trading session surged nearly 10 per cent to touch intraday high of Rs. 22.25 apiece in the early morning trading session. At 14.16 hours, the stock was trading at Rs. 21 apiece, up by 3.7 per cent from its previous close.