RPP Infra Projects rallies 4% on winning new orders worth Rs 183 crore

The firm landed three new construction orders for integrated storm-water drain projects in Greater Chennai Corporation's expanded areas.

Shares of RPP Infra Projects Ltd rallied 4 percent in early trade on January 1, post winning new orders worth Rs 183.59 crore. At 9:24 am the RPP Infra Projects stock was trading at Rs 120.12 on NSE. The firm landed three new construction orders for integrated storm-water drain projects in Greater Chennai Corporation's expanded areas. The company accepted a letter of acceptance for Package 4, valued at Rs 70.50 crore, Package 5 at Rs 53.17 crore, and Package 8 at Rs 59.92 crore.

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These projects involve the development of storm-water drain infrastructure in the M1 & M2 components of the Kovalam Basin. RPP Infra Projects is expected to complete these assignments within 24 months from the appointed date.

These endeavours highlight the company's ongoing commitment to infrastructure development, specifically in the crucial domain of storm-water management for the extended regions of Greater Chennai Corporation as detailed in the official BSE filing dated December 30.

RPP Infra stock performance

RPP Infra project has given a return of 103.24 percent over the last six months. The benchmark Nifty50 index has given a return of 12.47 percent over the same duration.

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