Shares of R P P Infra Projects traded higher on Wednesday after the company announced a fresh highway order win in Tamil Nadu. The stock opened firm at Rs 112.50 versus a previous close of Rs 107.50 on the BSE, hit an intra-day high of Rs 115.20, and was hovering in the Rs 110–115 band with a VWAP of Rs 112.63. This leaves the counter still well below its 52-week high of Rs 255 and only marginally above the 52-week low of Rs 100.95, with the company’s full market capitalisation around Rs 546 crore.

Volumes were modest, with roughly 4,100 shares changing hands against a two-week average of about 6,700 shares and turnover of roughly Rs 4.6 lakh in early trade.

The immediate trigger for the move was a regulatory filing stating that R P P Infra has received a letter of acceptance for a new work order worth Rs 25.99 crore (including GST) to widen the Hogenakkal–Pennagaram–Dharmapuri–Thirupathur Road (SH-60) from two lanes to four lanes. The contract, awarded by the Office of the Superintending Engineer (Highways), Construction & Maintenance, Tiruvannamalai Circle, Tamil Nadu, carries a completion timeline of 12 months. This comes on the heels of a Rs 69.36 crore order, disclosed on November 28, for widening and improving the Thirumazhisai–Uthukottai Road (SH-50) from two lanes to four lanes, also to be executed over 12 months.

Taken together, the two recent Tamil Nadu highway jobs add close to Rs 95 crore of incremental order inflows within a short span, which is meaningful relative to the company’s size but not transformational.

For context, R P P Infra’s Q2 FY26 results showed revenue from operations rising about 20% year-on-year to roughly Rs 317 crore, while consolidated net profit declined around 27% to Rs 13.8 crore, pointing to ongoing margin and execution pressures despite topline growth.

The new orders deepen the road segment pipeline and reinforce the company’s positioning in state highway upgrades, but investors are likely to watch the pace of execution, working-capital discipline and the conversion of this order flow into stable cash-generating projects before re-rating a stock that remains less than half its 52-week peak.