Kridhan Infra jumps 9% after Singapore subsidiary bags order worth over Rs 160 cr
Kridhan Infra's subsidiary will construct link sewers for the DTSS Phase 2 project at Old Choa Chu Kang Road/ Jalan Bahar, in Singapore.
January 09, 2019 / 10:49 AM IST
Kridhan Infra shares rallied 9.3 percent in morning on Wednesday after company's Singapore subsidiary Swee Hong Limited bagged order worth over Rs 160 crore.
"Singapore Subsidiary – Swee Hong Limited, together with its step-down subsidiaries, has successfully secured a contract from the public utilities board worth SG$ 32.5 million (Rs 167.6 crore) in aggregate," the engineering company said in its filing.
The subsidiary will construct link sewers for the DTSS Phase 2 project at Old Choa Chu Kang Road/ Jalan Bahar, in Singapore.
Kridhan acquired a majority stake in Swee Hong limited in 2016 which is a leading EPC company in Singapore.
At 10:38 hours IST, the stock was quoting at Rs 48.10, up Rs 2.95, or 6.53 percent on the BSE.