PSP Projects stock price gains 8% after bagging additional work orders of Rs 236 crore

The scrip witnessed spurt in volume by more than 1.22 times and was trading with volumes of 64,991 shares, compared to its five-day average of 60,091 shares, an increase of 8.16 percent.

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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); 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//$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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PSP Projects share price was up over 8 percent intraday on February 5 after the company received additional work orders.

“We are pleased to inform that our company has received an additional work order worth Rs 236 crore for an Institutional project at Gujarat. Further, our company has been ranked the Ll bidder (Lowest Bidder) by a regulatory authority for projects totalling to Rs 420.89 crore for construction of medical colleges at multiple locations at Uttar Pradesh,” the company said in an exchange filing.

The stock was trading at Rs 486.15, up Rs 39.60, or 8.87 percent. It has touched an intraday high of Rs 489.70 and an intraday low of Rs 456.50.

The scrip also witnessed a spurt in volume by more than 1.22 times and was trading with volumes of 64,991 shares, compared to its five-day average of 60,091 shares, an increase of 8.16 percent.

Brokerage firm Dolat Capital has maintained a “buy” rating on the stock, with a target of Rs 558 per share. “PSP will continue to witness superior return ratios (average RoE/ RoCE of 21.2%/ 21.3% over FY20- 23E), due to a strong PAT growth in FY22E, well-managed lean balance sheet and efficient working capital management,” it said.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge. The stock is showing strong momentum: price above short, medium and long-term moving averages.

Moneycontrol technical rating is very bullish, with moving averages and technical indicators strong.

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