Ramky Infrastructure has recently experienced a significant surge in its stock price following the announcement of a major order from Power Grid.
Here is the details of the contract, its impact on Ramky Infrastructure’s stock, and the company’s overall contributions to India’s infrastructure development.
Ramky Infrastructure Stock Surge
Stock Performance
Shares of Ramky Infrastructure saw a remarkable rally, surging by 7.27% to reach an intraday high of Rs 603.65 per share on Thursday.
This surge can be attributed to the company’s announcement of securing contracts worth Rs 131.19 crore from Power Grid.
Market Capitalisation
As per the Bombay Stock Exchange (BSE), Ramky Infrastructure’s market capitalization stands at Rs 4,083.02 crore.
The company’s stock has a 52-week high of Rs 1,008.90 per share and a 52-week low of Rs 365.55 per share, showcasing significant potential for investors.
Details of the Order from Power Grid
Announcement from Ramky Infrastructure
In an exchange filing, Ramky Infrastructure stated, “We are pleased to inform you that the company has received Notification of Awards (NOA) from PowerGrid Energy Services Limited, a wholly-owned subsidiary of Power Grid Corporation of India Limited, for ‘Supply of Plant Contract (Contract Part I)’ and ‘Supply of Installation Services Contract (Contract Part II)’ for ‘Loss Reduction work under Results-linked, Distribution Sector Scheme (RDSS) in Leh District under Implementation of Distribution of Infrastructure works of Ladakh Power Development Department (LPDD) under RDSS in the Districts of Leh & Kargil of UT of Ladakh.’”
Breakdown of the Contracts
- First Order: Ramky Infrastructure has been awarded a contract worth Rs 107.39 crore for the supply contract of a plant under the RDSS for loss reduction work in the Leh district. This project is part of the Distribution Infrastructure works implemented by the Ladakh Power Development Department (LPDD) in the Leh & Kargil districts of UT of Ladakh.
- Second Order: The company secured an additional contract valued at Rs 23.80 crore for installation services for loss reduction work under RDSS in Leh district. Similar to the first order, this project is also under the LPDD’s Distribution Infrastructure works in the Leh & Kargil districts of UT of Ladakh and is expected to be completed within a timeframe of 30 months.
Impact on Ramky Infrastructure
Strategic Importance
The acquisition of these contracts is a significant milestone for Ramky Infrastructure.
These projects not only add substantial value to the company’s portfolio but also enhance its reputation in executing large-scale infrastructure projects.
Financial Implications
The combined value of Rs 131.19 crore from these contracts will positively impact Ramky Infrastructure’s financials.
The timely completion of these projects will likely lead to further opportunities with Power Grid and other major players in the infrastructure sector.
Ramky Infrastructure’s Contributions to India’s Development
Overview of Projects
Ramky Infrastructure has been a key player in India’s infrastructure development, undertaking numerous projects across the country.
The company has been involved in building and managing roads, highways, water treatment plants, and urban infrastructure projects.
Key Achievements
- Roads and Highways: Ramky Infrastructure has developed several major roads and highways, improving connectivity and supporting economic growth in various regions.
- Water Treatment Plants: The company has completed numerous water treatment projects, ensuring access to clean and safe water for communities.
- Urban Infrastructure: Ramky Infrastructure has been instrumental in developing urban infrastructure, including residential complexes, commercial buildings, and public amenities, contributing to the modernization of Indian cities.
Conclusion
The recent order from Power Grid marks a significant achievement for Ramky Infrastructure, highlighting its capability to secure and execute large-scale projects.
The stock surge following the announcement reflects investor confidence in the company’s growth prospects.
As Ramky Infrastructure continues to contribute to India’s infrastructure development, it remains a key player in the sector, poised for further success and expansion.