Kridhan Infra surges 15% on order win worth Rs 195 crore

IRB Infrastructure Developers  | In 2020 so far, the share price has moved up 76 percent to Rs 131.20. It's trailing twelve months (TTM) P/E was 6.40 multiple while 5-year average P/E was 8.30 multiple.

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Shares of Kridhan Infra (KIL) surged 15 percent in the early trade on Tuesday after company's subsidiary won an order of Rs 195 crore.

Company's Singapore subsidiary Swee Hong (SHL) has successfully won an order for construction of Link Sewers for the DTSS Phase 2 project from the Public Utilities Board, Singapore worth Rs 195 crore (SG USD 37.2 million).

The company acquired a majority stake in Swee Hong in 2016. SHL is a leading EPC company in Singapore, which under KIL leadership and guidance, has had a successful business and financial turnaround.

SHL has been able to fast track its legacy projects, which are near completion and is successfully bidding for new contracts to build a robust order book.

The share touched its 52-week high Rs 142.00 and 52-week low Rs 41.00 on 05 January, 2018 and 01 October, 2018, respectively.

Currently, it is trading 63.59 percent below its 52-week high and 26.1 percent above its 52-week low.

The share slipped 52 percent in the last 9 months.

At 09:24 hrs Kridhan Infra was quoting at Rs 51.90, up Rs 5.75, or 12.46 percent.