Niraj Cement Structurals shares rally over 14% after bagging order worth Rs 322.27 from MoRTH

Shares of Niraj Cement Structurals Limited surged more than 14% in trade after the company announced a major order win from the Ministry of Road Transport and Highways (MoRTH)boosting investor sentiment around its order book visibility and execution prospects.

The company informed exchanges that its joint venture has received a work order worth ₹322.27 crore (including GST) for the four-laning of the Ponda to Bhoma section of National Highway-748 in Goa. The project will be executed under the Engineering, Procurement and Construction (EPC) mode.

As per the disclosure, the project involves upgrading the NH-748 stretch from Km 125.440 to Km 135.050a key road corridor in the state of Goa. The contract has been awarded by MoRTH, making it a domestic infrastructure projectand the total execution period is 18 months from the appointed date.

The company clarified that there is no promoter or promoter group interest in the entity awarding the contract. It also stated that the order does not fall under related-party transactionsensuring that the deal has been awarded on a fully independent basis.

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