Explained: Why Enviro Infra Engineers share price jumped 11% in early trade
Shares of Enviro Infra Engineers Ltd surged sharply on Tuesday morning, rising over 11% in early trade after the company announced that it had secured new projects worth Rs 306.30 crore.At around 9:48 am, the company's stock was trading at Rs 233.50 apiece on the Bombay Stock Exchange (BSE), up 10.43% from the previous close.The rally came after Enviro Infra Engineers issued a press release confirming the receipt of multiple new orders. In the release titled 'Enviro Infra Engineers Limited Secures New Projects Worth Rs 306.30 crores', the company said the new projects are part of its normal business operations.advertisement
While the firm did not disclose further details about the nature of the contracts or the clients involved, citing confidentiality clauses, it emphasised that the development was material enough to warrant a voluntary disclosure.The company clarified that the provisions under Clause 4 of Part B of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with recent Sebi circulars on contract awards 'not in the normal course of business,' do not apply in this case. Since the projects are part of routine business activity, the firm was not obligated to disclose them in detail but chose to do so voluntarily.Market participants took this as a positive signal, interpreting the development as a sign of strong order inflow and business momentum.While the announcement lacked granular details, the headline figure of Rs 306 crore in new projects appears to have bolstered investor sentiment and sparked renewed interest in the stock.advertisementThe jump adds to recent positive momentum for the company's shares, which have seen steady gains in recent weeks amid growing interest in infrastructure and engineering firms with robust order books.Investors will now watch for future updates on project execution timelines and whether this order win translates into stronger financial performance in upcoming quarters.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends
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