Today, ARSS Infrastructure has acquired a work order amounting to Rs. 164.50 crores for widening of existing two lane to two lane with 1.5 meters wide paved shoulder from 0/0 kms to 81/0 kms and 83/0 kms to 119/0 kms of NH 157 in the state of Odisha on EPS mode. The work is awarded by the Office of Chief Engineer, National Highways, Odisha, Bhubhaneshwar.
On bagging the new work order ARSS share price gained over 11 per cent at NSE in trade today. The stock traded at the intraday high of Rs. 68.50.
ARSS has been running in loss since two quarters and have also posted the negative EPS. The stock had been declining steadily since December 1st. ARSS has lost over 15 per cent since its closing price of Rs. 72.05 on December 1st to Rs. 61.45 on December 22nd.
In a time like this, the work order came as a relief for the company, boosting ARSS share price in trade today. At 2:47 PM, the stock was trading at Rs. 63.90 up by almost 4 per cent. It had opened at Rs. 61.75 and had slipped as low as Rs. 61.05 for the day. So far over five lakh shares had changed hands at the NSE trading counter today.
The stock had witnessed the highest traded quantity in a month of over 16 lakh on 28th November at the low of Rs. 59.20 while the highest deliverables of 3.28 lakh shares on 29th November at the low of Rs. 67.20. Also the highest percentage of Deliverables to traded quantity has been over 42 per cent on 23rd November. It will be worth watching the movement of ARSS share price now on since it has received a big work order. For more details on the stock drop by at ARSS share price history page of Dynamic Levels website.
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