Kalindee Rail extends gain on new orders

Kalindee Rail Nirman (Engineers), a construction company to build infrastructure for rail transport, extended gain on Tuesday after it bagged three large value projects each of around Rs 2 billion from railways in the second half of the last year.

20130521_1008839_1The company could also bag a high value order of Rs 1.66 billion from Kolkata Metro. And also it’s bid for Rs 2.46 billion with Rail Vikas Nigam, New Delhi under Ministry of Railways has been successful due to being lowest bidder.

Shares of the company are trading at Rs 53.55, up Rs 3.45, or 6.89% at the Bombay Stock Exchange (BSE) on Tuesday at 2:09 p.m.

20130521_1008839_1The scrip has touched an intra-day high of Rs 56.75 and low of Rs 49.60. The total volume of shares traded at the BSE is 463,501.

In the earlier session, the shares rose 2.87%, or Rs 1.4, at Rs 50.10. Currently, the stock is trading down 54.23% from its 52-week high of Rs 117 and above 4.59% over the 52-week low of Rs 51.20.