Shares of RPP Infra Projects Ltd. rallied by 5% to hit an upper circuit at Rs 195.77 on 15th October after the firm announced it had received the letter of acceptance for improving a 19 km stretch in Jalgaon, Maharashtra, for Rs 217.61 crore.

As stated in a stock exchange filing, the company received the order from the Chief Engineer, Konkan, and the Project Director (EAP) in Mumbai.

The order involves improving the Kothore Digar Satana Malegaon Chalisgaon Pachora Shendurni Pahur Wakadi Road, and completion is expected in two years.

They also mentioned that it had been awarded additional contracts this year and currently holds a work order totalling Rs 3,523.24 crore as of 15th October 2024.

On Thursday, 14th October, it announced it secured new orders worth Rs 127.46 crore for the 139 km-long Poladpur Mahabaleshwar Wai Surur Road improvement. The order was received from the Chief Engineer of Maharashtra State Infrastructure Development Corporation and is expected to be completed in two years.

Last week, the company reported it was awarded two contracts in Maharashtra, totalling Rs 318.63 crore.

These projects include constructing a concrete pavement road and reconstructing and widening bridges and culverts on the Alibag Bypass Road (from Pen Road Junction to Revdanda Bridge Road), with a contract value of Rs 201.94 crore.

The company will also manage improvements to the Pachorowadi-Shewale-Satgaon Road (SH-40) in Nashik’s Pachora region, valued at Rs 116.69 crore.

At 3:30 PM, the shares of RPP Infra were locked in the 5% upper circuit at Rs 195.77 on NSE.

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