Omaxe share price locked at 10 percent upper circuit in early trade on February 19 after the company declared a successful bidder for the development of two bus terminals in Ayodhya and Lucknow.
There were pending buy orders of 42,229 shares, with no sellers available, on the BSE.
At 09:27 hrs, Omaxe was quoting at Rs 110.40, up Rs 10.
On February 16, the company was declared a successful bidder by Uttar Pradesh State Road Transport Corporation (UPSRTC) for the development of two bus terminals, one at Amausi, Lucknow on a land area of 20170 sq. mts., and the other at Ayodhya Dham on a land area 36426 sq. mts.
These terminals will be developed under the design, build, finance, operate and transfer (DBFOT) model on a PPP basis.
The Letter of lntents (LOIs) shall be issued by the UPSRTC in favour of M/s Omaxe Ltd. being the lead member of the consortium, in due course of time.
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The company had reported a consolidated loss of Rs 71.77 crore for the quarter ended in December 2023. Its loss stood at Rs 109.11 crore in the year-ago period.
Total income from operations rose to Rs 601.90 crore from Rs 253.81 crore in the year-ago period.
The stock touched a 52-week high of Rs 117.00 and a 52-week low of Rs 42.39 on February 8, 2024, and 29 August, 2023, respectively.
Currently, the stock is trading 5.64 percent below its 52-week high and 160.44 percent above its 52-week low.
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