Microcap stock hits 5% upper circuit after company wins ₹292 crore-worth order; do you own?

Shares of Niraj Cement Structurals gained around five per cent during today's trading session after the company announced that it won an order worth ₹292.4 crore from the National Highways & Infrastructure Development Corporation Limited (NHIDCL). 

‘’M/s. Niraj Jandu JV has received work order for “construction of two lane with paved shoulders road from Tamenglong to Mahur (NH-137) in the state of Manipur from km 10.000 near Dialong Village to km 31.430 near Barak River (Length- 21.43 km) on EPC mode from NHIDCL value of worth Rs. 292.44 crore excluding GST,'' said Niraj Cement Structurals in a regulatory filing to the stock exchanges.

The time period given to the firm for the execution of the order is 18 months, according to the exchange filing. Along with this order, the company's joint venture (JV) has also received an order worth ₹13.96 crore from the Central Railways network.

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‘’M/s. Niraj – Mahavir JV has received work order for “construction of buildings overhead & underground water tanks, road etc. & P. way work in connection with augmentation of coaching facilities at Lokmanya Tilak Terminus from Central Railway value of worth Rs. 13.96 crore excluding GST,'' said Niraj Cement Structurals in a separate stock exchange filing. The time period given for the execution of the order is 18 months, as per the exchange filing.

Shares of Niraj Cements Structurals have been on the rise in the July-September quarter with the highest at ₹44.5 on August 11, just points away from its 52-week high. In September, the company received an order from Indian Port Rail & Ropeway Corporation Ltd worth ₹188 crore that drove its shares to again hit five per cent upper circuit. 

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The microcap stock opened at ₹34.87 on the BSE, gaining over five per cent in the session to hit an intra day high of ₹37.10. On Wednesday, shares of Niraj Cement Structurals settled 4.98 per cent higher at ₹37.10 apiece on the BSE. The company commands a market capitalisation of ₹148.98 crore, according to BSE data.