Infra stock, SRM Contractors Ltd receives LoA from NHAI, worth Rs 106 crore
As a result of this new work order, the company’s stock, primarily focused on infrastructure projects, surged by 5 percent during the trading day.
Infra stock, SRM Contractors Ltd receives LoA from NHAI, worth Rs 106 crore
SRM Contractors Limited is an engineering construction and development company specializing in the construction of roads, bridges, tunnel works, and more. The company has recently received a new Letter of Acceptance from the National Highway Authority of India (NHAI) for a project valued at Rs. 105.96 crores.
As a result of this new work order, the company’s stock, primarily focused on infrastructure projects, surged by 5 percent during the trading day. The contract is worth approximately Rs. 106 crores.
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The work involves Long-term rectification work of blackspots by the construction of VUP at Sornath Junction, Flyover at Keshod Junction, Flyover & LVUP at Gadu Location, Service road at Santipara Patiya on JetpurSomnath section of NH 151 in the State of Gujarat on EPC mode and it is to be completed within 18 months.
With a market capitalization of Rs. 872 Crores, the shares of SRM Contractors Limited were trading at Rs. 592 per equity share, up 2 percent from its previous day’s close price of Rs. 372.55.
SRM Contractors Limited is an engineering construction and development company primarily engaged in the construction of roads including bridges, tunnel works, slope stabilization works, and other miscellaneous civil construction activities.
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