Surya Roshni opened itself 4% higher today at Rs.202 and rose over 9.5% to Rs.212, which is just a tad away from its 52-week high of Rs.214.
The stock price has surged to the news that it has received two order worth Rs.273 crore for supply of coated API Line pipes.
One order worth Rs.61.5 crore is from GAIL - for Supply of Coated API Line Pipes for Mumbai-Nagpur - Jharsuguda pipe and the other is from Indradhanush Gas Grid, worth Rs.211 crore - for North- East Gas Grid Pipe Line project.
The GAIL project is to be executed in 8 months and Indradhanush in 60 weeks.
The stock is in the limelight as it is a big beneficiary of the Govt’s various schemes – Har Gar Jal scheme, irrigation projects and also in the projects undertaken to improve and modernize city gas distribution networks.
10-days ago, on 18th Sept the company has received another two orders worth Rs.287 crore for LPG pipelines from Indian Oil Corp and Bharat Gas Resources.
The company itself expects things to be better. During its results presentation on 30th July, the company had said, “With strong emphasis or Government on Local lo Vocal, higher demand from agriculture, manufacturing exports and good monsoon, the growth in rural India is expected to be higher than urban in future. As company's major sale comes from rural, semi urban & exports and therefore, going forward, both the segments of the company shall be performing well.”