Likhitha Infrastructure Stock Jumps 8% On Rs 146-Crore Order Win
Shares of Likhitha Infrastructure Ltd. jumped after the company bagged a Rs 145.86-crore order.
The company has received the order from Indradhanush Gas Grid Ltd. for laying and constructing steel gas pipeline and terminals for sections of North East Gas Grid project, according to an exchange filing.
Likhitha, in the filing said, it has received various orders worth Rs 80 crore from oil and gas distribution companies between June 2021 and now, for city gas distribution pipeline and related works.
The value of total outstanding order book as on Aug. 31 is about Rs 1,020 crore, excluding the goods and services tax, it said.
Shares of Likhitha rose more than 8% in early trade on Wednesday to Rs 407.40 apiece. The stock has crossed the 50-day simple moving average, indicating a potential upward momentum.