The shares of Gayatri Projects were locked in a 5 percent upper circuit in the early trade on Friday after the company’s water division bagged 3 Letters of Award (LOAs).
The stock jumped 5 percent to Rs 36.20 apiece on the BSE. The shares have risen over 50 percent in the last one month.
In a regulatory filing, the company said it has received 3 Letters of Award (LOAs) for Pipe Drinking Water Schemes from Namami Gange and Rural Water Supply Department in the State of Uttar Pradesh.
It will work in a joint venture where its share is 97.5 percent for a total value of Rs 1,332 crore.
Gayatri Projects Ltd. is the flagship company of diversified Gayatri Group that has interests in infrastructure, power, hospitality, real estate and industry.