Capacit'e Infraprojects receives order worth Rs 452.5 crore; share climbs 7%

Shares of Capacit'e Infraprojects, a Mumbai-based construction company, climbed over 7 per cent, recording the day’s high at Rs 202.55 apiece. The investors showed buying interest in the stock after the company received an order worth Rs 452.50 crore.

"This is to inform you that Capacit’e Infraprojects Limited has received an order worth Rs 452.50 crore (Rupees Four Hundred Fifty-Two crore and Fifty Lakh Only) (Exct GST) from a Reputed Private Sector client for the Construction of Residential and Commercial towers in the National Capital Region (NCR)," the regulatory filing read.

At around 1 PM, the scrip was trading at Rs 200 apiece, up 5.76 per cent. Capacit'e Infraprojects’ stock rose, snapping the two-day losing streak and recovering almost all the losses. The scrip recorded a 52-week high on June 19, 2023. The stock closed over 6 per cent higher at 202.05 apiece.

Capacit'e Infraprojects made a strong stock market debut at Rs 399 per share in September 2017, which was a 60 per cent premium to the issue price of Rs 250.

Brokerages' view

Nuvama has given a ‘buy’ rating on the stock for a target price of Rs 217, which translates to an upside of 14.8 per cent from Friday’s closing price.

"Capacit’e’s healthy order book and balance sheet are major positives. Pickup in execution and improvement in the working capital cycle shall be key stock triggers, in our view," the brokerage said in its report.

Capacit'e Infraprojects share price: Past performance

So far in 2023, the Capacit'e Infraprojects stock has gained over 25 per cent against the Nifty50’s rise of over 2 per cent. In the past month, the stock has gained over 16 per cent against the headline index’s rise of nearly 1 per cent.

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