Viviana Power Tech shares hit a day high of Rs 894 on NSE on Oct 12, up 9%, after bagging a Rs 466.74 cr Gujarat power network order.

In a filing on Saturday, 10 October, Viviana Power Tech Limited disclosed that Madhya Gujarat Vij Company Limited (MGVCL) has awarded it turnkey contracts totalling Rs 466.74 crore, including taxes.

A turnkey contract means one firm takes charge of the whole project, from the first step to the last. The work is about upgrading local power networks.

Across several MGVCL divisions, Viviana will replace uncovered wires strung on poles with covered ones and run cables below ground. This falls under the state’s SI Scheme, Robust-III.

The lines involved are 11 kV ones, which bring electricity to towns and villages. The company has as long as 18 months to complete the job, measured from the date of each Letter of Award.

MGVCL is an existing client. Viviana stated that the deal is not a related-party transaction and that there is no interest between MGVCL and its promoters.

The company also noted that this order value had been counted earlier, both in its investor presentation and in a previous notice about its lowest-bidder, or L1, position.

The award follows a busy August. In that month, Viviana emerged as the lowest bidder on three MGVCL projects worth Rs 113 crore, Rs 77.79 crore and Rs 275.05 crore.

July also brought a turnkey order of around Rs 71 crore from Paschim Gujarat Vij Company Limited.

Late on 10 October, the company filed the outcome of a board meeting. NSE’s event calendar lists another meeting on 15 October, to look at fund raising and other business matters.

At 12:50 am, it’s trading at Rs 872.00 on NSE, up Rs 54.15 or 6.62%. Over the past month, the stock has risen roughly 15.9%.

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