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OM Metals soars on resuming construction of residential project ‘Palacia’

18 Oct 2016

OM Metals Infraprojects is currently trading at Rs. 48.50, up by 4.65 points or 10.60% from its previous closing of Rs. 43.85 on the BSE.

The scrip opened at Rs. 46.10 and has touched a high and low of Rs. 50.70 and Rs. 46.10 respectively. So far 1,69,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 63.70 on 12-Jan-2016 and a 52 week low of Rs. 35.70 on 26-Feb-2016.

Last one week high and low of the scrip stood at Rs. 50.70 and Rs. 43.00 respectively. The current market cap of the company is Rs. 467.07 crore.

The promoters holding in the company stood at 70.74%, while Institutions and Non-Institutions held 3.94 % and 25.32 % respectively.

OM Metals Infraprojects has resumed construction of Residential project Palacia at A 2 Prithviraj Road near Statute Circle Jaipur in Rajasthan. The company has resumed the construction after the judgement of JDA tribunal which in its verdict ordered that all approvals and maps of the project approved by JDA are as per policies/ bye laws and within legal framework.

Om Metals Infraprojects is the market leader in the niche segment of turnkey execution from Design, Detailed Engineering, Manufacture, Supply, Installation, Testing & Commissioning of complete range of Hydromechanical equipments for Hydroelectric Power & Irrigation projects. It has its credit more than 60 Hydro-mechanical contracts across India and overseas.


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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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