RPP Infra bags orders worth Rs. 62.9 crore, stock surges

Chennai-based industrial infrastructure developer RPP Infra Projects Limited has won an order worth Rs. 62.9 crore from Bharat Heavy Electrical Limited. 
  
The order includes civil engineering work of Boiler, Mill and Bunker, ESP area of unit 1 for 2x660 MW power project plant at Udangudi, Tuticorin for Bharat Heavy Electrical Limited (BHEL). This order is worth Rs. 11.9 crore and has a deadline of eight months for completion. 
  
In addition to this, BHEL has placed an order for Leveling & Grading of Green Belt alongside the plant area units 1 and 2 Udangudi Super Critical Thermal Power Plant in Tuticorin district. This project is to be completed within 10 months and has a total value of Rs. 51 crore. 
  
Since November 2018, this is the third order that RPP Infra has secured, which takes the tally of total orders won during this period to Rs. 271.4 crore. Further, the orders were from different geographies, providing the company with a wider business horizon. 
  

The stock reacted positively to this development and saw strong momentum to gains 3 per cent in morning trade. On Wednesday at 12:34 pm, the stock traded at Rs. 131.10 per share, up by 2.70 per cent on BSE, while the benchmark index BSE Sensex was at 36,468.21, up by 23.57 points or 0.06 per cent.