Vishnu Prakash Shares Soar 11% To Record On Bagging Orders Worth Rs 899 Crore
The company has received a letter of award for development of a water-supply system in Haldwani and Kotdwar.
Shares of Vishnu Prakash R Punglia Ltd. surged 11% on Wednesday to an all-time high since listing after it won orders worth Rs 899 crore from the Uttarakhand government. The company debuted on exchanges on Sept. 5.
The infrastructure company received a letter of award from the Urban Development Department for development of a water-supply system in Haldwani and Kotdwar with 18 years of operation and maintenance, according to an exchange filing on Tuesday.
While the Haldwani project is worth Rs 525.5 crore, the Kotdwar project's cost is at Rs 373.2 crore, it said.
Vishnu Prakash's stock rose as much as 11.39% during the day to 242 apiece on the NSE. It was trading 6.19% higher at Rs 230.70 apiece compared to a 0.57 advance in the benchmark NSE Nifty 50 as of 9:54 a.m.
The total traded volume so far in the day stood at 17 times its 30-day average.
