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Shares of Capacite Infraprojects climbed as the construction firm has won a redevelopment project. The stock climbed as much as 9.4 per cent to Rs 315.80, highest in over 3 weeks.
Capacit’e Infraprojects in consortium with Tata Projects and CITIC Construction has bagged an order worth Rs 11,744.26 crore from the Mumbai Housing and Area Development Board.
“The project will be executed through a special purpose vehicle in which Capacit’e Infraprojects Ltd will have 37.1 per cent share worth Rs 4,357.12 crore,” the company said in a BSE filing today.
The share of Tata Projects Ltd in the consortium will be 36.9 per cent and CITIC Construction Co Ltd will have 26 per cent stake.
The project involves technical designing (structure service + infrastructure), co-ordination and construction of rehabilitation/ sale/ commercial / amenities / any other structure along with construction of habitable temporary transit camps, work of on-site, off-site infrastructure and landscaping & performing various co-ordination activities and obtaining all relevant permissions and approvals from all authorities concerned on a lumpsum basis for redevelopment of project of BDD Chawls at Lower Parel Division at Worli.
Over 834,000 shares traded, compared with the 30-day average of 234,215 shares. The stock had fallen 27 per cent this year, as of Thursday's close.
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