For six straight sessions, the stocks of PSP Projects hit a high of 2.37% to Rs 767.65. The PSP Projects jumped by 11.43%. The stock outperformed the market in December 2022, soaring 21.05% compared with a 3.97% decline in the Sensex.

The scrip outperformed the market in the previous quarter, surging 18.86% against Sensex’s 3.3% rise. The scrip outperformed the market in the past year, soaring 57.05% against Sensex’s 0.91% rise.

The stock was trading above its 50-day simple moving average (SMA) placed at 653.78, 100-day simple moving average (SMA) placed at 633.88, and 200-day simple moving average (SMA) placed at 592.22.

The company offers allied services and a diverse range of construction in India. Also, it provides services across the construction value chain, from planning and design to construction and post-construction activities.

On a consolidated basis, the net profit of PSP Project slipped by 40.8% to Rs 21.54 crore, and 7.8% went down in revenue from operations to Rs 359.98 crore in July-September of FY23 over July-September of FY22.