Om Infra Ltd receives Rs. 45.59 crores arbitration award

Om Infra Ltd. has announced the receipt of payment of an amount Rupees 45.59 crores against settlement of an Arbitration Award under the Vivaad se Viswas scheme of Government of India for hydro-mechanical works contract of Tapovan Vishnugad Hydroelectric power project in Uttarakhand from NTPC Ltd.

Quong the aforesaid award Vikas Kothari, Managing Director - Om Infra Ltd said that this is a very positive and effective step taken by the Government of India under the incredible leadership of our Honourable Prime Minister towards expedious and proactive settlement of long pending contractual disputes and avoiding a protracted legal bale leading to financial losses to both the EPC contractors as well avoiding enormous losses to the Government exchequer.

Shares of OM INFRA LIMITED was last trading in BSE at Rs. 124.10 as compared to the previous close of Rs. 121.70. The total number of shares traded during the day was 2778 in over 27 trades.

The stock hit an intraday high of Rs. 124.10 and intraday low of 124.10. The net turnover during the day was Rs. 344749.00.

Source : Equity Bulls

Keywords

OMINFRA INE239D01028 ArbitrationAward Settlement