ARSS Infra rallies 6% on fresh order win

NEW DELHI: Shares ARSS Infrastructure Projects rallied over 6 per cent in Wednesday's trade after the company said it has bagged a work order amounting to Rs. 64.73 crore.

In a brief regulatory filing to the BSE, the comapny said it had received orders for widening and strengthening of Jamujhadi - Basudevpur - Dhamara Road (SH) to 2 lanes without paved shoulder. The order was awarded by office of the Executive Engineer Bhadrak (R&B) Division, Bhadrak, the firm said.

Following the announcement, the stock surged 10.87 per cent to hit a high of Rs 43.85 on the BSE. The stock eventually closed the day at Rs 42, up 6.19 per cent. any operating in the construction sector.

The company had on April 8 announced securing of work order amounting to Rs 156.85 crore for execution of earthwork, minor bridges and other allied works. Before that, it reported bagging a work order worth Rs 142.79 crore for the construction of Road Bed, Station Buildings, Passenger Amenities, Minor Bridges, General Electrical works on March 31.