India's Laser Power & Infra jumps on winning contracts worth $7.6 million from Power Grid
BUZZ-India's Laser Power & Infra jumps on winning contracts worth $7.6 million from Power Grid ** Integrated power infrastructure company Laser Power & Infra LASP.NS shares rise as much as 3.64% to 277.5 rupees apiece
** Rise after LASP says it secured contracts aggregating to 727.6 million rupees (about $7.6 million) from Power Grid PGRD.NS
** Order for the supply of high temperature low sag (HTLS) conductors and the reconductoring of two existing transmission lines in the north eastern region of India
** Project to cover about 164 circuit kilometres of existing transmission corridors and is to be completed within 12 months
** "Order signs an entry for LASP into a specialised segment of transmission infrastructure," says Deepak Goel, chairman and managing director of LASP
** LASP, which was listed on July 16, is up 29% over its issue price of 214 rupees per share
($1 = 96.4200 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))