Infra stock jumps 5% after it signs agreement with Chief Engineer Water Resource Department worth ₹ 38.75 Cr

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Infra stock jumps 5% after it signs agreement with Chief Engineer Water Resource Department worth ₹ 38.75 Cr

The shares of the versatile construction company gained up to 5 percent after the company signed the agreement with the Chief Engineer Water Resource Department worth Rs 38.75 crore.

With a market capitalization of Rs 252.75 crore, the shares of Brahmaputra Infrastructure Ltd were trading at Rs 87.10 per share, increasing around 0.59 percent as compared to the previous closing price of Rs 86.59 apiece.

According to the company filing, Brahmaputra Infrastructure Ltd has signed an agreement with the Chief Engineer Water Resource Department to execute the Contract for Procurement of Works for Dibrugarh Riverbank Protection Work, Dibrugarh District at Nagakhelia, Chaulkhowa as D/S of Bogibeel Bridge and Adaption Works – I and III underwater works and temporary slope protection works (Section 1) valued at Rs 38.75 crore.

Looking into Brahmaputra Infrastructure Ltd’s performance, revenue decreased by 5 percent from Rs 55.81 Crore in Q3FY23 to Rs 52.89 Crore in Q3FY24. During the same time frame, net profit increased by 60 percent from Rs 3.28 crore to Rs 5.27 crore.

The stock has delivered returns of 68.08 percent in the last six months and a multi-bagger return of 182.39 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 2.82 lakh in a year.

Recently, the company made a significant announcement in an exchange filing, where it reported a consolidated order book totaling ₹1,186.67 crores as of March 31, 2024.

The budget included ₹146 crore for bridge work, ₹504 crore for building, ₹151 crore for river protection, ₹138 crore for road maintenance, ₹231 crore for tunnel work, and ₹14.39 crore for warehouse and miscellaneous work.

Brahmaputra Infrastructure Limited is an India-based company, which is engaged in the business of engineering, procurement, and construction (EPC) and real estate. The Company operates through two segments: the EPC Division and the Real Estate Division.

Written by:- Abhishek Singh

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The post Infra stock jumps 5% after it signs agreement with Chief Engineer Water Resource Department worth ₹ 38.75 Cr appeared first on Trade Brains.

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