Om Metals shares rally 13% on Rs 615 crore order

Shares of Om Metals rallied over 13 per cent in early trade on Thursday after the company informed bourses that it has received an order worth Rs 615.16 crore from the government of Rajasthan.

The scrip was trading 13.26 per cent up at Rs 39.30 at around 9.30 am (IST), while the BSE Sensex was down 149.39 points, or 0.41 per cent, at 36335 at around the same time.

In a BSE filing the company said that it has got a letter of acceptance for the work of planning, design, drawings and construction of lsarda Dam across Banas River in Village- Banetha, District Tonk, Rajasthan on EPC basis including its operation and maintenance for 5 years.


“The value of work order is Rs 615.16 crore and has been awarded to the company by Water Resources Department, Government of Rajasthan,” the company said in a filing.

Market capitalisation of the company is hovering around Rs 380 crore. Shares of Om Metals hit a 52-week high of Rs 79.35 on January 9, 2018 and 52-week low of Rs 23.05 on October 10, 2018.