The share price of RPP Infra Projects Ltd was locked at 5% upper circuit on 6 March following the company’s announcement receiving the receipt of a letter of approval for a new project valued at Rs 80.98 crore from the Chennai Metropolitan Water Supply & Sewerage Board.

The project intends to improve the water supply by constructing subterranean tanks, water distribution stations, and feeder mains in areas I and V; replacing PVC water mains; renewing water mains that have been checked; and strengthening various water main sizes in various depots in areas IV and V under Vada Chennai Valarchi Thittam Tamil Nadu.

The scope of the project also includes constructing stormwater drainage works in the Kovalam Basin (Package 16) under the KfW fund that will benefit various streets in Zone 15 of the Greater Chennai Corporation. The said project is expected to be completed within 12 months. 

Earlier on 28 February, the company received a letter of acceptance for a project worth Rs 108.80 crore from the Tamil Nadu State Industries Promotion Corporation.

On 27 January, the company received a letter of approval for a project worth Rs 87.56 crore from the Greater Chennai Corporation.

The company is in the business of infrastructure development and specialises in the development of roads, industrial structures, buildings, power, and irrigation projects. 

At 12:17 pm, the shares of RPP Infra Projects were locked 5% higher at Rs 138.09 on NSE. There were no sellers available, and 76,682 shares had pending buy orders.

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