Shashijit Infra shares rebound as company bags construction order

Shashijit Infraprojects has bagged a construction order from Shree Hari Developers. The company was informed about the same through an exchange filing. The stock has delivered multibagger gains since its listing at the SME platform of BSE about seven year ago.

"We are pleased to announce that Shashijit Infraprojects Limited has been awarded a letter of intent (LoI) for the construction of a commercial building by Shree Hari Developers," the company said in the exchange filing. The order is valued at Rs 120 million (Rs 12 crore).

The project site is situated at Ringanwada Road, Daman, UT of Dadra & Nagar Haveli and Daman and Diu, the company said. "None of the Promoters or members of the Promoter Group has any vested interest in the aforementioned project," it added further.

Shares of Shashijit Infra recouped about 3 per cent on Thursday to Rs 41.40. The stock has gained about 25 per cent in the last one month. The stock has rallied more than 140 per cent in the last one year. The stock has

Shashijit Infra was listed at the bourses in October 2016 on BSE's SME platform. The company offered its shares at Rs 15 apiece with a lot size of Rs 8,000 shares. However, the company announced a bonus issue in 1:5 ratio, turning the size to 9,600 for the investors. The stock has gained about 225 per cent from its issue price.

Shashijit Infraprojects primarily engages in the construction of Industrial, Commercial, Residential, and Institutional buildings with a presence in Gujarat, Dadra and Nagar Haveli, and Daman and Diu. It offers a wide range of services, including general contracting, design-build, development, engineering, procurement and construction (EPC), and project management consultancy (PMC).

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