A2Z Infra Engineering Ltd shares surged as much as 11.7 per cent on Monday after the company on Friday post market hours said that it has received a contract worth $13.56 million (around Rs 90 crore) from Nepal Electricity Authority (a Government of Nepal Undertaking) for expansion of distribution network in the western region of Nepal.
At 2.08 pm, shares of A2Z Infra Engineering were trading 5.82 per cent up at Rs 32.75. The scrip opened at Rs 32.10 and has touched a high and low of Rs 34.60 and Rs 31.60, respectively, in trade so far.
Later, the scrip closed 5.65 per cent up at Rs 32.70.
The company last month too had bagged an order from Nepal Electricity Authority for expansion of distribution network in eastern region of Nepal, for contract price of aggregating to $13.08 million dollar.
The promoters holding in the company stood at 49.65 per cent while institutions and non-Institutions held 11.73 per cent and 38.61 per cent, respectively.
A2Z Infra Engineering is primarily engaged in providing Engineering, Procurement and Construction (EPC) services in power transmission and distribution sector with focus on distribution. It also forayed in the renewable energy generation business through by setting up three biomassbased power plants (15 MW each) in Punjab in collaboration with sugar mills on Built Own Operate and transfer (BOOT) basis.