Oval Projects Engineering Jumps 5% After Securing ₹58.25 Crore Order from TUDA

Mumbai, September 16, 2025 – Oval Projects Engineering Ltd (BSE: 544498) stock went up by 5% to ₹78.13 at 12:35 PM on Tuesday, following the announcement of the company having received a significant order for infrastructure worth ₹58.25 crore.

Key Trigger for Stock Movement

The rally was driven by an announcement that Oval Projects JV (51% owned by Oval Projects Engineering and 49% owned by Raviraj Bokadia Creative) has been awarded a Letter of Award (LOA) by Tripura Urban Planning and Development Authority (TUDA) for the Improvement of Roads and stormwater drainage System in Khowai, Ranirbazar, and Mohanpur towns.

This is the third major project of the company, which has helped strengthen its order book and consolidate its position in sustainable infrastructure development. The project is likely to be carried out according to the contracted timelines.

Strengthening Order Book and Urban Infra Portfolio

The order worth ₹58,25,22,752.56 reinforces the company’s portfolio in urban infrastructure development to a considerable extent. It entails significant improvement in road connectivity and drainage facilities in three prominent towns of Tripura, anticipated to improve urban mobility and flood management in the area.

The firm explained that the promoters and promoter group have no interest in TUDA, and the order is not classified under related-party transactions. With this recent victory, Oval Projects Engineering’s grip on the government infrastructure sector is further consolidated, solidifying its position as a major player in urban planning and development projects around the nation.

Market Reaction Post the Order Announcement

Oval Projects Engineering Ltd stocks rose 5%, trading at ₹78.13 on September 16, 2025, at 12:35 PM IST. Oval Projects Engineering Ltd’s stock has increased 12.7% over the past 5 days and fallen 8.14% over the past month.

Stock Performance and Valuation Snapshot

Oval Projects Engineering opened Tuesday’s session at ₹78.13, equaling its intraday high, and fell to a low of ₹76.50. At current prices, the company has a market capitalisation of ₹162.27 crore.

The stock is at a price-to-earnings (P/E) level of 17.39. In the last year, the stock has fluctuated between a 52-week high of ₹86.00 and a 52-week low of ₹65.83, reflecting a fairly small trading range.

About Oval Projects Engineering

Oval Projects Engineering Ltd, formerly known as Oval Projects Engineering Pvt. Ltd., is a listed SME on BSE in the civil construction industry. The organization specializes in infrastructure development work, such as road development and stormwater drainage systems, to support sustainable urban development in India.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/154014c1-2bd9-4d5f-a24f-a5a157361180.pdf

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