Capacite Infra Wins Rs 224 Crore Raymond Order, Shares Soar 21% in 3 Days

Capacite Infra shares gained 5% after securing an order of Rs 224 crore.

Shares of Capacite Infraprojects (CIL) rose 11% to Rs 155.30 on the BSE in intraday trade on Wednesday on heavy volume.

Over the past three sessions, shares of the civil construction company have gained 21% after winning an order for TenX Era worth Rs 224 crore in residential projects in Raymond (real estate unit).

CIL was quoted 10.5% higher at Rs 154.70 at 12:26 pm, while the S&P BSE Sensex gained 0.11%. The average transaction volume over the counter has increased fivefold. 1.3 million shares, representing 1.9% of the company’s total share capital, changed hands on the NSE and BSE.

Management said the company remains confident in delivering projects within the stipulated timeframe and satisfying customers.

Last month, CIL received an order worth Rs 478.08 crore from Godrej Residency Private Limited (Godrej Group) to construct residential buildings in Mahalaxmi, Mumbai.

CIL provides engineering, procurement and construction/turnkey solutions for residential, high-rise, supertall, speciality buildings and urban infrastructure. The company has recently ventured into the development of public sector projects.

Meanwhile, after rating agency India Ratings and Research (Ind-Ra) downgraded CIL’s long-term issuer rating from ‘IND BBB+’ to ‘IND BB+’ for the period September 13, 2022, to March 28, 2023, the stock fell 42% and placed it on rating watch with a negative impact.

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