Swastika Infra stock rises 5% after ₹615.76cr MSEDCL contract win
Business
Swastika Infra's stock shot up 5% on Wednesday after the company bagged its largest contract yet, a ₹615.76 crore deal from Maharashtra State Electricity Distribution Company Limited.
The project focuses on upgrading power infrastructure in Bhandup Zone and gives a big boost to Swastika's project pipeline.
IPO oversubscribed 7.6x order book ₹1,400cr
Swastika Infra only listed on September 30, with shares debuting at ₹200, already above the issue price. After this contract win, the stock climbed even higher to ₹209.95.
Their IPO was a hit, oversubscribed by 7.6 times. With a growing order book now at around ₹1,400 crore, Swastika is set for more growth across nine states.