Ramky Infrastructure stock soars: On Thursday, shares of Ramky Infrastructure (also known as Ramky Infra) increased by up to 7.27%, reaching an intraday high of Rs. 603.65 a share. Following the company's announcement that it had obtained contracts for Rs 131.19 crore from Power Grid, the stock price surged.
Ramky Infrastructure said in an exchange filling that it is happy to notify that it has received Notification of Awards (NOA) for "Supply of Plant Contract (Contract Part I)" and "Supply of Installation Services Contract (Contract Part II)" for "Loss Reduction work under Results-linked Distribution Sector Scheme (RDSS) in Leh District under Implementation of Distribution of Infrastructure works of Ladakh Power Development Department (LPDD) under RDSS in the Districts of Leh & Kargil of UT of Ladakh." PowerGrid Energy Services Limited is a wholly owned subsidiary of Power Grid Corporation of India Limited.
In the first order, KEC International was given a contract for Rs 107.39 crore to deliver a plant for work on loss reduction in the Leh area under the RDSS. This project is part of the Ladakh Power Development Department's (LPDD) execution of Distribution Infrastructure works in the UT of Ladakh's Leh and Kargil districts. It is projected that the project will be finished in thirty months.
KEC International has successfully negotiated a contract for Rs23.80 crore in the second order. As part of LPDD's Distribution Infrastructure works in the Leh and Kargil districts of the UT of Ladakh, the scope includes installation services for loss reduction work under the RDSS in the Leh area. As with the original order, a 30-month completion window is anticipated for this project.
The main activities of Ramky Infrastructure Limited are the creation and management of infrastructure. The firm was founded in 1994 and has its headquarters in Hyderabad. It works in several areas of infrastructure development, including as industrial parks, water and waste management, transportation (roads and highways), irrigation infrastructure, and electricity transmission.
Ramky Infrastructure has worked on a number of projects in India, helping to enhance the nation's infrastructure. They have experience developing and overseeing urban infrastructure projects, water treatment facilities, and roadways. The Bombay Stock Exchange (BSE) states that this SmallCap firm has a market capitalization of Rs 4,083.02 crore.
The stock has reached a 52-week high of Rs 1,008.90 per share and a 52-week low of Rs 365.55 per share. The company's shares were trading 4.86 percent higher at Rs 590.05 a share at 9:56 AM. In contrast, the BSE Sensex was down 0.03 percent at 78,647 points.
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