Pratibha Industries secures contract from Indore Development Authority, Indore

Pratibha Industries Ltd has announced that the Company has secured a contract from Indore Development Authority, Indore for a road construction project. The total value of the contracts is Rs 137.70 crores. The project is in joint venture with Niraj Cement Structurals Ltd.

The project involves "Construction of Pilot Corridor on A B Road, (Niranjanpur to Rajiv Gandhi Square), Indore, Madhya Pradesh (under the 'Bus Rapid Transit System, Indore' of Principle Agency Indore City Transport Services Ltd) floated by Indore Development Authority Indore". The Project is to be executed in 24 months.

The Company is engaged in infrastructure business with key focus on water segment. As the Company moves ahead, it has laid increased emphasis on devising its business strategy on aggressive top line growth, a de-risked business model and increased operational efficiencies.

The stock was trading at Rs.266.90, up by Rs.6.40 or 2.46%. The stock hit an intraday high of Rs.271 and low of Rs.264.90. The total traded quantity was 38685 compared to 2 week average of 93698.

Source : Equity Bulls

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