RPP Infra Projects zooms after its JV bags order worth Rs 104.55 crore

Today, the stock opened at Rs 41.75 and has touched a high and low of Rs 44.60 and Rs 41.15, respectively.

On Wednesday, the shares of R.P.P. Infra Projects closed at Rs 43.30, up by 1.05 points or 2.49% from its previous closing of Rs 42.25 on the BSE.

In the exchange filing on January 04, RPP Infra Projects announced that its joint venture (JV) company, RPP Infrastructures has received a letter of acceptance for a new project for Ground Water Based Mini Piped Water Supply Scheme (Maximum 100 Household) from 295 Nos. villages within 08 Nos. Blocks namely Balurghat, Hili, Kumarganj, Tapan, Gangarampur, Kushmandi, Banshihari & Harirampur in the district of Dakshin Dinajpur under Balurghat Division at a contract price of Rs 104.55 crore.

RPP Infra Projects (51% holding) along with its JV partner (49% holding) will invest in the project as per their capacity of holding and complete the above project within the decided timelines. Further, it's a huge opportunity in the core competency areas of the company and it's a further boost to the infrastructure sector.

The promoters holding in the company stood at 51.29%, while Institutions and Non-Institutions held 0.06% and 48.65% respectively.

RPP Infra Projects Limited, incorporated in 1995, is engaged in construction across multiple infrastructure verticals like roads, buildings, industrial structures, power, irrigation and waste management.

The scrip opened at Rs. 41.75 and touched a high and low of Rs 44.60 and Rs 41.15, respectively. The stock was trading at a TTM P/E of 34.49x with ROE and ROCE of 2.96 and 8.76, respectively.

The BSE group 'B' stock of face value of Rs 10 has touched a 52-week high and low of Rs 75.20 and Rs. 29.60, respectively. Last one week high and low of the scrip stood at Rs 44.60 and Rs 39.20 respectively. The current market cap of the company is Rs 160.87 crore.