K2 Infragen Shares Hit Upper Circuit; Company Bags Rs 158.58 Crore Railway Electrification Order from Konkan Railway

New Delhi, Jun 15: K2 Infragen shares on Monday hit the upper circuit in the morning session and were trading at ₹60.30, up 20% from the previous close. The company on Monday informed the bourses that it has received a Letter of Acceptance (LoA) worth Rs 158.58 crore, including GST, from Konkan Railway Corporation Ltd for the upgradation of railway electrification infrastructure across key sections of the North Western Railway.

The order involves design, supply, erection, testing and commissioning for upgrading the electric traction system from 1 x 25 kV to 2 x 25 kV, the company said in a statement.

The project covers the Luni–Samdari–Bhildi (SMR–BLDI) section in the Jodhpur Division and the Jaipur–Sawai Madhopur section in the Jaipur Division. Together, the project spans 403 route kilometres and 497.65 track kilometres, it added.

The scope of work is aimed at strengthening railway traction capacity to support the 3,000 MT loading target.

As per the LOA, the project is expected to be completed within 24 months, according to the statement

Stock Market Snapshot

As of 12:08 PM IST on Monday, shares of K2 Infragen Ltd were trading at ₹60.30, up 20% from the previous close, hitting the upper circuit during Monday’s session.
The sharp rally in K2 Infragen share price came amid strong buying interest in the small-cap infrastructure segment. The stock witnessed steady gains through the session before touching the circuit limit in late morning trade.
Market participants tracked the counter closely as momentum in select infrastructure and engineering stocks remained strong during the day’s trading session.

Benchmark Crossed

Commenting on the development, Pankaj Sharma, Managing Director, K2 Infragen Ltd said, “With this award, our unexecuted order book now crossed the new benchmark of approx. 500 crore direct orders from government bodies within last six months ”

Railway electrification and traction upgradation continue to remain key focus areas for India’s transport infrastructure, especially as the rail network moves towards higher efficiency, improved load.

Source:

• https://www.nseindia.com/get-quote/equity/K2INFRA/K2-Infragen-Limited