PSP Projects shares trade higher on winning multiple orders

The share touched a 52-week high of Rs 846.00 and a 52-week low of Rs 563.00 on 23 August, 2023 and 31 October, 2022, respectively.

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Shares of PSP Projects gained 1.5 percent in early trade on October 31 after the company bagged multiple work orders.

At 9:19am, PSP Projects was quoting at Rs 731.25, up Rs 10.60, or 1.47 percent, on the BSE.

The company received the addition of scope of work for the construction of chocolate plant (Phase III) for a multi-national company in Sanand, Ahmedabad, with the revised order value worth Rs 266.56 crore from earlier Rs 200 crore in institutional category. The project is to be completed within 19 months.

The company received order for construction of commercial complex viz. OVD_14 Commercial Tower in GIFT City, Ahmedabad, worth Rs 57.33 crore from Ozone Viswanath Developers in institutional category. This project is to be completed within 22 months.

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In an another order, the to develop Kalamkhus Campus worth Rs 24.81 crore in Ahmedabad for the local civic body in the government category and to be completed within 18 months.

With the receipt of the orders, the total order inflow for the financial year 2023-24 till date has reached Rs 958.63 crore.

The company also emerged as the lowest bidder for the construction of main building for Gujarat Biotechnology Research Centre (GBRC)
at Gandhinagar worth Rs 101.67 crore.

The share touched a 52-week high of Rs 846.00 and a 52-week low of Rs 563.00 on 23 August, 2023 and 31 October, 2022. The stock was trading 13.56 percent below its 52-week high and 29.88 percent above its 52-week low on October 31.