PSP Projects Ltd. saw its stock climb to ₹778.15 (₹1 = $0.012) on the National Stock Exchange (NSE), a 1% increase, following the announcement that the company secured the L1 bid for a significant science gallery project in Ahmedabad. The project, valued at ₹296.85 crore (Rs 1 crore = $119,921) excluding GST, is set to enhance the city's Science City initiative under the auspices of Ahmedabad Municipal Corporation.
This latest win adds to PSP Projects' growing portfolio of contracts. Earlier in December, the company was awarded a ₹101.67 crore construction contract for the Gujarat Biotechnology Research Centre located in GIFT City Gandhinagar. The project timeline includes an 18-month completion schedule with an additional four-year operation and maintenance period.
PSP Projects has also been recognized as the lowest bidder for the Sabarmati Riverfront development project, which is valued at approximately ₹409.93 crore. With these recent developments, the company's total order book for the current fiscal year has reached a robust ₹1,063.86 crore.
The company's stock performance has seen various peaks and valleys over the past few months, with an annual high of ₹846 recorded on August 23 and a low of ₹639.60 on December 9. Today's trading shows that PSP Projects' shares are currently performing above this recent low but still below their highest value this year.
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