Likhitha Infra shares rise on winning Rs 235-crore order from GAIL

Shares of Likhitha Infrastructure Ltd rose over 5% today after firm said it received an order worth Rs 235.50 crore from GAIL (India) Limited. Likhitha Infrastructure stock gained 5.26% to Rs 294 against the previous close of Rs 279.30 on BSE. The stock has risen 29.62% in 2023 and gained 99% in a year. 

Total 0.49 lakh shares of the firm changed hands amounting to a turnover of Rs  1.41 crore. Market cap of the firm rose to Rs 1157 crore on BSE.     

In terms of technicals, the relative strength index (RSI) of Likhitha Infrastructure stood at 61.4, signaling it's trading neither in the overbought nor in the oversold zone. Likhitha Infrastructure stock has a one-year beta of 1.3, indicating very high volatility during the period. Likhitha Infrastructure shares are trading higher than the 10 day, 20 day, 50 day, 100 day and 200 day averages.      

The contract relates to pipeline laying and composite works for Phase-2, order(s)/contract(s) awarded (Salem to Coimbatore Pipeline section of KKBMPL -II Project), the gas pipeline laying firm told bourses. 

The contract is to be executed within 15 months from the date of fax of order(s)/contract(s) of Acceptance/Letter of Intent. 

Likhitha Infrastructure is engaged in the business of laying gas supply pipe lines and irrigation canals, building bridges over the canals and related maintenance works. 

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