Simplex Infra shares touched a day high of Rs 263.00 on 5 October, up 7%, the day the firm won a Rs 255.52 crore Oil India order.

Simplex Infrastructures Limited told the exchanges on 5 October that Oil India Limited has awarded it a contract for oil drilling services. The deal is worth about Rs 255.52 crore.

In plain terms, the Kolkata-based firm will carry out drilling work for Oil India, a state-run company that explores for and produces crude oil and natural gas.

To put the size in context, the order equals roughly 87% of the Rs 293.81 crore the company booked in revenue across the whole April to June quarter.

Simplex is mainly known for building work such as piling, power projects, roads, railways and marine structures. Drilling services sit in a smaller side of its business.

This is not its only recent win. Market reports say the firm picked up about Rs 920 crore of new projects from public and private clients earlier this financial year.

Adding the Oil India award takes fresh orders for the year to about Rs 1,175 crore. Shareholders passed every resolution at its 108th annual general meeting, the company said on 24 September.

It has also closed its trading window from 1 October. That rule stops insiders from dealing in the stock until 48 hours after its July to September results are out.

On 5 October, Simplex shares opened at Rs 254.90 on NSE and fell as low as Rs 248.11 after touching the high of Rs 263.00.

They ended the session at Rs 249.61, up Rs 4.60 or 1.88% from the previous close of Rs 245.01. About 2.80 lakh shares changed hands, worth Rs 7.15 crore.

The stock is still down 12.17% over the past year, and its market value is about Rs 1,974 crore.

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