ARSS Infra surges on diluting 50% stake in Bhubaneshwar project

20 Sep 2011

ARSS Infrastructure is currently trading at Rs 381.70, up by 7.30 points or 1.95% from its previous closing of Rs 374.40 on the BSE.

The scrip opened at Rs 376.00 and has touched a high and low of Rs 395.40 and Rs 371.80 respectively. So far 426856 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 1331.70 on 27-Sep-2010 and a 52 week low of Rs 278.60 on 12-Sep-2011.

Last one week high and low of the scrip stood at Rs 395.40 and Rs 319.60 respectively. The current market cap of the company is Rs 555.73 crore.

The promoters holding in the company stood at 55.04% while Institutions and Non-Institutions held 0.91% and 44.05% respectively.

ARSS Infrastructure has diluted 50% stake in Rs 400 crore Bhubaneshwar project being developed by the company. Welspun Infratech, part of BK Goenka-led Welspun Group, has bought 50% in an Rs 400-crore transport infrastructure project. ARSS' unit is developing a bus terminal in a 15 acre complex in the city. It plans to use surplus land at the terminal for building offices and shops later on. Welspun Group has been looking at the infrastructure space closely and will scout for more such opportunities.

Recently, the company had bagged total order worth Rs 233.53 crore. The company had bagged first work order for an amount of Rs 220 crore from Punjab Infrastructure Development Board while it had bagged second work order from the Office of the Executive Engineer, Angul (R&B) Division, Angul, Odisha amounting Rs 13.53 crore.

ARSS Infrastructure Projects is engaged in construction activities in India. It undertakes construction of railway infrastructure, roads, highways, bridges and irrigation projects. The company has developed expertise in railway construction projects, which includes earthwork, major and minor bridges, supply of ballast, sleepers, laying of sleepers and rails, linking of tracks etc.

Related ARSS Infrastructure Projects Ltd. Links:

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