Nila Infrastructure Shares Surge After Securing Major Real Estate Order
Nila Infrastructure share: Nila Infrastructure, a company operating in the real estate sector, has recently announced a significant contract awarded by Shree Infracon Private Limited, resulting in a 20% surge in the company’s shares on Wednesday. The current market price of these shares is 6.70 INR, a notable increase from their previous closing price of 5.59 INR, just one day ago.
Details of the Contract:
Nila Infrastructure has been entrusted with the construction of 1,694 residential flats in Ramapiir No Tekro, Vadaj, Ahmedabad. The project’s estimated total cost amounts to 101.64 crore INR, and the company is committed to completing the project within an 18-month timeframe. Additionally, they will be responsible for maintaining these flats for a period of ten years. It’s worth mentioning that in August, the Gujarat Housing Board granted approval for Nila Infrastructure to construct 48 affordable flats, with an approximate total development cost of 17.94 crore INR.
Comparison to 52-Week High and Low:
Nila Infrastructure shares have experienced a fluctuation in the past year, reaching their 52-week high at 8.65 INR on November 30, 2022, and their 52-week low at 4.23 INR on March 29, 2023. At present, the shares are trading at approximately 22.54% below their 52-week high but have seen a substantial increase of 58.39% from their 52-week low. It’s noteworthy that the company’s annual general meeting is scheduled for September 29, 2023.
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