Ramky Infra shares gain 5% on receiving LoA for project worth ₹215 crore

The shares of Ramky Infrastructure Limited surged 5.47% to an intraday high of ₹636.95 per share on Thursday as the company announced that it received a Letter of Acceptance (LoA) from the Hyderabad Metropolitan Water Supply & Sewerage Board for a project worth ₹215.80 crores.

In a statement, the company said, “We are pleased to inform that the company has received "Letter of Acceptance" from Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB) for Manning, Operation and Maintenance of STPs' and its connecting Interception and Diversion under HMWSSB jurisdiction for a period of five years.”

Ramky Infrastructure Limited, headquartered in Hyderabad, carries out a wide variety of construction and infrastructure projects across sectors including water and wastewater management, irrigation, transportation, industrial parks, power transmission and distribution, as well as property development for residential, commercial and retail purposes.

At 3 PM on Thursday, the shares of Ramky Infrastructure Limited traded at ₹618.25 which is 2.38% higher than the previous close of ₹603.90 per share on the National Stock Exchange.

Summary: Ramky Infrastructure Limited saw its shares rise 5.47% to ₹636.95 on Thursday as the company received a Letter of Acceptance (LoA) from the Hyderabad Metropolitan Water Supply & Sewerage Board for a project worth ₹215.80 crores.