India's Power Mech Projects jumps on JV's $61 mln order win

Power Mech Projects

14/10/2022 06:52

** Shares of infrastructure construction firm Power Mech
Projects  POMP.NS  rise as much as 5.3% to 1,919.5 rupees, their
biggest intraday gain since Oct 4
    ** Co's JV with RITES  RITS.NS  gets order worth 4.99 bln
rupees ($60.59 mln) from Bangalore Metro Rail Corp Ltd
 urn:newsml:reuters.com:*:nFWN31E1XH
    ** Co's stake in JV is 49%, while RITES holds the remainder
stake
    ** More than 26,000 shares change hands, 0.3x 30-day avg of
84,790 shares
    ** Stock up 94% YTD, up to last close
     ($1 = 82.3600 Indian rupees)
 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))