RPP Infra Projects shares hit 52-week high amid strong order book

RPP Infra Projects shares skyrocketed to a 52-week high on Thursday, a day after the construction company bagged orders worth Rs 289.3 crore. The stock of RPP Infra Projects — traded on the bourses with the symbol RPPINFRA — rose by as much as Rs 8.8 or 15.4 per cent to Rs 66.1 apiece on BSE, surpassing its earlier peak of Rs 34.3 apiece, registered on July 27.

As part of the deal, RPP Infra Projects will:

• construct a three-lane flyover at Uthamasolapuram with vehicular underpasses at different locations on the Salem-Kumarapalaym section of National Highway 544 in Tamil Nadu on EPC at a contract price of Rs 125.85 crore
• restore and beautify the Vandiyur Tank in Madurai City Municipal Corporation at a contract price of Rs 41.15 crore
• make improvements in the existing water supply distribution system and provide house service connection at Odugathur, Pallikonda, Othakkalmandapam, Kannampalayam and Nilakkottai for a value of Rs 122.3 crore

All the values are inclusive of GST, according to a regulatory filing. 

As of June 30, 2023, RPP Infra Projects' order book stood at Rs 3,240 crore. The latest orders are set to take the company's order book above Rs 3,500 crore. 

What does RPP Infra Projects do?

RPP Infra is a niche infrastructure company with an asset-light business model.

RPP Infra Projects share price history

RPP Infra Projects' shares have grown more than 55 per cent so far in 2022,sharply outperforming a seven per cent rise in the Nifty benchmark.

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