ARSS Infra surges 7% intraday on Rs 109 crore contract win

By: | Updated: March 29, 2016 4:11 PM

Shares of ARSS Infrastructure Pojects surged as much as 7.43 per cent in the early trade on Tuesday after it informed stock exchanges post market hours on Monday that the company has won a Rs 109-crore contract in Odisha

ARSS Infra shares, BSE SENSEXFor the quarter ended December 2015, ARSS Infra reported net loss of Rs 25.09 crore against net loss of Rs 1.46 crore in the same quarter last year. (Photo: PTI)

Shares of ARSS Infrastructure Pojects surged as much as 7.43 per cent in the early trade on Tuesday after it informed stock exchanges post market hours on Monday that the company has won a Rs 109-crore contract in Odisha by East Coast Railway.

At 9.36 am, ARSS Infrastructure shares were trading 3.56 per cent up at Rs 33.45. The scrip opened at Rs 34.50 and has touched a high and low of Rs 34.70 and Rs 33.25, respectively, in trade so far.

Later, the scrip closed 1.70 per cent up at Rs 32.85.

“A work order amounting to Rs 109.27 crore namely ‘Jarapada-Budhapank with flyover at Talcher road… execution of earth work, minor bridges & other allied work…has been awarded in favour one of the company’s joint venture (JV) ARSS-SIPS,” ARSS Infrastructure Projects said in a BSE filing.

For the quarter ended December 2015, the company reported net loss of Rs 25.09 crore against net loss of Rs 1.46 crore in the same quarter last year.

ARSS Infrastructure Projects started as a construction company in the field of railway infrastructure development. The company has developed an expertise in railway construction projects, which include earthwork, major and minor bridges, supply of ballast, sleepers, laying of sleepers and rails, linking of tracks etc.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition