PIGL Secures New ₹2.59 Cr Udaipur Airport Contract 🏗️
Hey there, finance enthusiasts! Let’s dive into some fresh corporate news that just hit the wires.
Power & Instrumentation (Gujarat) Limited, known by its ticker PIGL, has announced a significant new work order. The company has secured a contract worth ₹2,59,60,000/- (approximately ₹2.59 crore), including GST. This order was awarded by Nyati Engineering & Construction Private Limited.
What’s the buzz about? This new contract is for Extra Low Voltage (ELV) raceways and cable tray work at the Udaipur Air Terminal in Rajasthan. Think of ELV systems as the backbone for things like security cameras, access control, fire alarms, and data networks – crucial infrastructure for any modern airport! ✈️
This isn’t PIGL’s first rodeo at the Udaipur Air Terminal. With this latest win, the total cumulative value of work orders received by PIGL for this specific project now stands at an impressive ₹56.36 crore. It’s great to see a company building on its existing presence in a major infrastructure project.
The company expects to complete this new phase of work within six months from the effective date of the award. It’s a domestic project, and the company has confirmed that there’s no promoter interest or related party transaction involved, which is always good to note.
On the market front, PIGL shares were last traded at ₹112.36, reflecting a 5.0% dip before the market closed. While the stock saw a decline, this new order highlights the company’s continued operational activity and its role in key infrastructure development.
Keep an eye on PIGL as they continue to execute projects like the Udaipur Air Terminal. It’s these consistent order wins that often paint a picture of a company’s growth trajectory. Happy investing! 📈
source: Corporate Announcement
Join our Telegram for instant updates!