Vishnu Prakash R Punglia gains nearly 12% on bagging orders worth ₹900 crore from Uttarakhand

In a stock exchange filing, the integrated engineering, procurement, and construction (EPC) firm Vishnu Prakash R Punglia announced that it has received the Letter of Award (LoA) from the Uttarakhand government's urban development department.

Reacting to the development, the stock surged as much as 12% to hit a fresh high level of ₹242.45 apiece on BSE.

In September, the company received a Letter of Award (LoA) from the Madhya Pradesh Jal Nigam for ₹634.41 crore drinking water supply scheme project.

The scope of the work includes engineering, procurement, construction, testing, commissioning, trial run and operation and maintenance for 10 years of Chillar Dam Multi-Village Drinking Water Supply Scheme, District Shajapur, in a single package on turn-key job basis.

Notably, Vishnu Prakash R Punglia made its debut on the stock exchanges on September 5. The initial public offering (IPO) comprised a fresh issue offering of up to 3.12 crore equity shares and was subscribed around 88 times.

At 10.36am, shares of Vishnu Prakash R Punglia were trading 5.53% higher at ₹228.95 apiece on the BSE