Pratibha Industries secures two contracts for water supply projects from Municipal Corporation of Greater Mumbai

Pratibha Industries Ltd has announced that the Company has secured two contracts from Municipal Corporation of Greater Mumbai for water supply schemes. The total value of the contracts is Rs 434.86 crores.

Above projects are parts of Middle Vaitarna Water Supply Project and involve "providing and laying of 3000 mm diameter M.S. pipes of total length of 20.7 km and allied works". The projects are to be executed in 45 months.

The Company is engaged in infrastructure business with keys focus on water segment. As the Company moves ahead, it has laid increased emphasis on devising its business strategy on aggressive top line growth, a de-risked business model and increased operational efficiencies.

The stock was trading at Rs.286.15, up by Rs.4.80 or 1.71%. The stock hit an intraday high of Rs.291.50 and low of Rs.278. The total traded quantity was 125725 compared to 2 week average of 240472.

Source : Equity Bulls

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