Ircon, PNC Infra, Indian Hume, Gayatri Projects Shares Rise On Order Wins
Most of these orders were won in the state of Uttar Pradesh and ranged from upgradation of highways to drinking water projects.
Shares of Ircon International Ltd., Indian Hume Pipe Co., Gayatri Projects Ltd. and PNC Infratech Ltd. gained on account of various orders secured.
Most of these orders were won in the state of Uttar Pradesh and ranged from upgradation of highways to drinking water projects, according to their exchange filings.
Ircon International
The engineering and construction company was awarded the work of upgradation of the Gurgaon-Pataudi-Rewari section of NH-352W as a feeder route in Haryana.
The order was awarded by the National Highways Authority of India and is valued at Rs 900 crore, the company said in an exchange filing.
The work for this order shall be executed by a special purpose vehicle, which shall be incorporated by the company as its wholly-owned subsidiary.
Shares of Ircon International gained as much as 9.1% — the most since July this year — to Rs 96.05 apiece. The stock is also trading at its highest since August this year.
Gayatri Projects
Gayatri Projects received three letters of award for pipe drinking water schemes from the Namami Gange and Rural Water Supply Department in Uttar Pradesh, in a joint venture, in which the share of the The Hyderabad-based construction company is 97.5%.
The total value of these orders is Rs 1,332 crore, the company said in an exchange filing.
Shares of Gayatri Projects hit an upper circuit of 5%.
PNC Infratech
PNC Infratech has received a letter of acceptance for an engineering, construction and procurement project for 10 years of rural water supply project in 952 villages in Devipatan Division of Uttar Pradesh from the State Water Supply & Sanitation Mission, Narnami Gange and Rural Water Supply Department.
The approximate value is Rs 952 crore, the company said in the filing.
Shares gained as much as 8.3% to Rs 189.7 apiece. The stock snapped a three-day losing streak.
Indian Hume Pipe Company
The Mumbai-based pipe maker has received orders from the water supply department in Uttar Pradesh.
The order pertains to providing water supply schemes in 550 villages in Kanpur division of the state, according to its filing. The orders are valued at about Rs 550 crore.
The project is to be completed within 21 months from the date of signing of multipartite agreements. The operation and maintenance period is 10 years after the completion of the project. Minimum work to the tune of Rs 400 crore is guaranteed as per the tender condition.
Shares of the company gained as much as 6% to Rs 194.9 apiece.