ARSS Infrastructure gains 10% on Rs 156cr order win. The company’s JV ARSS-SIPS has bagged a work order of Rs 156.85 crore for Budhapank-Salegaon via.Rajathagarh for third and fourth railway line project.
Bhubaneswar: ARSS Infrastructure Projects announced that a work order amounting to Rs. 156.85 crore namely “Budhapank-Salegaon Via- Rajathagarh – 3rd & 4th line: Execution of earthwork, minor bridges & other allied works (Km: 483.047 to Km. 398.166 i.e 2*85 =170 km approx” has been awarded in favour one of the Company’s Joint Venture (JV) i.e. ARSS-SIPS (JV) by East Coast Railway, Bhubaneswar on 08 April 2016. The work order includes execution of earthwork, minor bridges and other allied works.
Apart from the above, ARSS Infra also bagged a work order amounting to Rs.109.27 crore for construction of Jarapada-Budhapank with flyover at Talcher Road. ARSS Infrastructure Projects is trading higher by 5% to Rs 33.95 on the BSE after the company announced that it won order worth Rs 109 crore. “A work order amounting to Rs 109.27 crore namely “Jarapada-Budhapank with flyover at Talcher Road – 3rd & 4th line; execution of earth work, minor bridges & other allied works (KM 525.133 to KM 483.047 i.e. 35.5 Km -3rd Line & 42.00 Km-4th line approx. excluding flyover portion at Talcher Road” has been awarded in favour one of the company’s joint venture (JV) i.e. “ARSS-SIPS (JV)” by East Coast Railway, Bhubaneswar on March 28, 2016,” ARSS Infra said in a statement.
The stock hit an intra-high of Rs 34.70 on the BSE so far. The trading volumes on the counter more than doubled with a combined 325,290 shares changed hands on the BSE and NSE till 09:27 AM.