Engineering consultants and contractor HEC Infra Projects Ltd shares rallied nearly 10 percent to hit the upper circuit limit on Thursday after the company announced bagging a contract worth Rs 37.01 crore from Haryana state power utility.
HEC Infra Projects shares opened higher and soared further to hit its upper circuit limit of 9.95 percent at Rs 40.35 on National Stock Exchange.
The company informed the bourses that it has received a work order from Haryana Vidyut Prasaran Nigam Ltd aggregating to Rs 37.01 crore.
The work order is for the supply erection, civil, testing and commissioning of equipment for construction of 132 kV and 66kV composite transmission line in Faridabad, Sirsa and Rohtak areas.
The transmission line project will be implemented within 15 months, the company stated.
Haryana Vidyut Prasaran Nigam Ltd is involved in the transmission and distribution of electricity in the state.
HEC Infra Projects this week reported an 11 percent growth in its revenue from operations in the June quarter at Rs 13.35 crore from Rs 11.03 crore in the year ago period.
Operating profits soared 68 percent to Rs 26.83 lakh in the quarter under review from Rs 15.95 lakh in the year ago period due to lower expenses.
Net profit increased 64 percent to Rs 20 lakh in Q1 of FY24 from Rs 12 lakh in the year ago period.
HEC Infra Projects is an Ahmedabad-based engineering, procurement and construction firm. It offers services in specialised lighting to ports, malls, multiplexes, banks and information technology parks.
