Shares of Valecha Engineering rose over 7 per cent on Bombay Stock Exchange (BSE) after the company announced that it has received fresh orders worth Rs 398.03 crore.
The first order is for the rehabilitation and upgradation of NH-43 in the State of Chhattisgarh under NHDP-IV on EPC basis worth Rs 308.77 crore, the company said in a release.
The second order is for the construction of rail flyover for harbour line at Kurla in connection with Mumbai CST-Kurla 5th and 6th lines project worth Rs 89.26 crore, the release added.
Following the development, shares of company gained 7.10 per cent to Rs 32.45 a piece on the BSE.
Shares of the company surged 6.94 per cent to Rs 32.35 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 23,098.33, down 93.64 points, or 0.40 per cent, at 11:07 hours.