RDB Infrastructure Stock Surges Following Major Solar Cell Manufacturing Contract
Small-cap stock under ₹50 RDB Infrastructure hits upper circuit after this order update
Mint
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RDB Infrastructure's share price reached the 5% upper circuit limit on April 8 after the company announced a significant contract for solar cell manufacturing in Nava Raipur Atal Nagar. The project involves a 36.46-acre land allocation with a total premium of ₹36.89 crore (approximately $4.4 million USD).
- 01RDB Infrastructure's share price hit the upper circuit limit after contract announcement.
- 02The company received a Notice of Award for a solar cell manufacturing site in Nava Raipur Atal Nagar.
- 03The land spans 36.46 acres, costing ₹36.89 crore (approximately $4.4 million USD).
- 04RDB Infrastructure is also engaged in a ₹73 crore (approximately $8.8 million USD) construction project in Howrah, West Bengal.
- 05The solar cell project is expected to support sustainable industrial growth.
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On April 8, RDB Infrastructure's share price surged to the 5% upper circuit limit after the company announced it, in partnership with Samvik Power Private Limited, received a Notice of Award for an industrial plot in Nava Raipur Atal Nagar dedicated to solar cell manufacturing. The 36.46-acre site comes with a total premium of ₹36.89 crore (approximately $4.4 million USD) and will be leased for 90 years, with lease payments adjusted every 30 years. This initiative aims to foster sustainable industrial growth within a structured national framework. In addition, RDB Infrastructure has secured a ₹73 crore (approximately $8.8 million USD) construction contract for a residential project in Howrah, West Bengal, expected to be completed within 30 months. The stock opened at an intraday high of ₹34.48 on the Bombay Stock Exchange.
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The successful allocation of land for solar cell manufacturing could lead to job creation and economic growth in the region, benefiting local communities and industries.
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