Vishnu Prakash R Punglia Ltd shares hit a 52-week high of Rs 189.20 on the NSE after the company announced that it had secured a new order from the Madhya Pradesh government.

The company said that they received a letter of award from the Madhya Pradesh Jal Nigam for Rs 634.41 crore from the drinking water supply scheme project.

The order includes engineering, procuring, testing, engineering, commissioning, operation and maintenance, and a trial run for a period of 10 years of the Chillar Dam Multi-Village Drinking Water Supply Scheme in the Shajapur District.

The project is in a single package on a ‘Turn-key Job Basis’.

The stock made its debut earlier this month on 5 September for a debut price of Rs 1656 per share on the NSE (National Stock Exchange), which is a premium of 66.7% over its IPO price of Rs 99, and was listed for Rs 163.30 per share on BSE (Bombay Stock Exchange) that is a premium price of 65% against its issue price.

The stock has gained over 7% in the past week.

In its yearly report for the previous fiscal year, the company recorded a net profit of Rs 44.85 crore as of 31 March 2023, against the Rs 18.98 crore reported on 31 March 2022.

The company’s revenue from operations also increased to Rs 785.61 crore reported at the end of the fiscal year 2023 from Rs 485.73 crore reported at the end of fiscal year 2022.

As of 15 July, the company’s order book stands at Rs 3,799.53 crore.

At 3:30 pm, the shares of Vishnu Prakash R Punglia closed at Rs 181.75 or 2.74% above its previous close on NSE.