During Thursday’s trading session, the shares of a company engaged in providing infrastructural services surged nearly 11.6 percent, after the company announced securing a work order worth Rs. 268.92 crores from Border Roads Organization (BRO).
Price Movement
With a market cap of Rs. 211.8 crores, the shares of Niraj Cement Structurals Limited closed in the green at Rs. 49 on BSE, up by around 6.3 percent, as compared to its previous closing price of Rs. 46.1.
The stock has delivered positive returns of nearly 28 percent over one year, while around 2 percent of negative returns in one month.
What’s the news
As per the latest regulatory filings, Niraj Cement Structurals Limited announced that the Niraj-Satish Joint Venture (JV) has secured a work order for the construction of a 4-lane Greenfield bypass (Pattan Bypass) with paved shoulders on the Srinagar-Baramulla-Uri (NH-01) route in Jammu and Kashmir.
The project, awarded under Project Beacon by the Border Roads Organization (BRO), spans from Existing Ch. Km 24.320 to Km 33.760 (Design Ch. Km 24.400 to Km 35.300), covering a total length of 10.9 km.
The contract, valued at Rs. 268.92 crore (excluding GST), will be executed in EPC mode and is expected to be completed within 24 months.
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Financials
Niraj Cement reported a decline in revenue from operations, experiencing a year-on-year decrease of nearly 5.5 percent, falling from Rs. 126.6 crores in Q3 FY24 to Rs. 119.7 crores in Q3 FY25.
However, during the same period, the company’s net profit increased from Rs. 1.3 crore to Rs. 2.2 crore, indicating a rise of around 68 percent YoY.
About the company
Niraj Cement Structurals Limited is engaged in the business of providing infrastructure and construction services for highways, expressways, turnkey projects, roads, bridges, tunnels, and allied works.
Written by Shivani Singh
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