ARSS Infrastructure jumps 9% on Rs 140.5 crore order win for JV

ARSS Infrastructure added over 9 percent intraday on Monday as investors cheered an order win worth Rs 140 crore by the company’s joint venture.The Rail Vikas Nigam Limited on March 3 awarded to ARSS-SIPS (JV) the execution of work of track linking OHE, S&T and other allied works from Haridaspur to Kendrapara, including Kendrapara yard in connection with construction of New BG railway line from Haridaspur to Paradeep in Khurda Road Division of East Coast Railway in Odisha. The work order amounts to Rs 140.52 crore, the company told stock exchanges in a notification. The work shall be completed within the stipulated period of 15 months along with six months defect liability period from the date of commencement, the exchanges were informed. The stock gained over a hundred percent in the past one year, and has posted a three-day gain of 4 percent. At 11:20 hrs, its stock was quoting at Rs 66.40, up Rs 3.65, or 5.82 percent on the BSE. It touched an intraday high of Rs 68.65 and an intraday low of Rs 65.65.