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.
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.
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.
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.’”
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.
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 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.
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.
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