Om Metals Infra surged over 19% to Rs.41.35, with volumes rising over 5.5 times. With buyers far outnumbering the sellers, the stock seems to be in the deep green zone.
The stock is reacting to the good news that it has got a letter of Acceptance for the work of Planning, Design, Drawings and Construction of lsarda Dam across Banas River in Rajasthan. This order is from the Water Resources Department.
This will be on an EPC basis including its operation and maintenance for 5 years.
The value of work order is Rs.615 crore.