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This is an archive article published on January 30, 2012

RPP Infra Projects shares spurt 14

Shares of RPP Infra Projects rallied after the company bagged new orders worth Rs 23 cr.

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Defying a weak broader market,shares of RPP Infra Projects today rallied nearly 14 per cent after the company said it has bagged new orders worth Rs 23 crore from Mangalore Refinery and Petrochemicals Ltd MRPL.

Shares of the company closed higher by 13.79 per cent at Rs 66 on the National Stock Exchange.

On the BSE,shares touched a month8217;s high of Rs 69 before settling at Rs 65.70,reflecting a sharp gain of 12.31 per cent over the last close.

The work order,which includes civil and structural works at the MRPL Phase-III project site in Mangalore,shall be completed in a period of five months,the infra firm said in a statement.

The rally in the stock was in sharp contrast to a weak broader market as the BSE benchmark Sensex closed down by 370.68 points.

 

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