Valecha Engineering shares rallied over 13 per cent on Wednesday after the company informed stock exchanges that it has bagged two projects worth Rs 398.03 crore.
The share price of the company closed 13.37 per cent up at Rs 34.35. The scrip opened at Rs 32.20 and touched a high and low of Rs 35.90 and Rs 31.30, respectively, in trade. Sensex closed 0.82 per cent up at 23,381.87.
The company has secured first order worth Rs 308.77 crore for the rehabilitation and up-gradation of NH-43 from km 130 to km 180 (Kanker to Bedma section) to two lane with paved shoulder in the state of Chhattisgarh under NHDP-IV on EPC basis.
The company has won another order worth Rs 89.26 crore for construction of Rail Flyover for Harbour line at Kurla in connection with Mumbai CST-Kurla 5th and 6th lines project. This order has been bagged by joint venture (JV) ‘Valecha-RE Infra’.
The promoters holding in the company stood at 33.55 per cent while institutions and non-institutions held 20.70 per cent and 45.75 per cent respectively.
Valecha Engineering is engaged in the construction of major infrastructure and engineering projects such as irrigation dams, reservoirs and canals, roads, highways and expressways, bridges and tunnels, railways, airports and foundation and piling works.