RPP Infra rises and falls

about 2 months ago
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With volumes going up almost 7 times, RPP Infra is having a roller coaster ride today. The stock opened in the positive at 110, up 2%, going up to 114, rising over 4.8%, just short of its 5% UC at Rs.114.20. But after that, profit booking took down the stock into the red, currently at its intra day low at Rs.105.95, down 2.6%.

The stock reacted to the receipt of a new order worth Rs.414 crore.

The company, along with its JV partner won this order for the construction of a two—Iane road from Kaletwa to the India — Myanmar border in the Chin state of Myanmar.

This new project marks the diversification of RPP Infra Projects into the new geographical international location of Myanmar.

The company said that its order book at the end of FY19 stood at Rs.1944 crore and is well on its way to meeting its order inflow aim of Rs.1200 crore in FY20.

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