SPML Wins India Water Line Supply Contracts, Shares Climb

SPML Infra Ltd. (SPML), an Indian builder, won 4.2 billion rupees ($78 million) of contracts for water infrastructure work in the western state of Rajasthan. The shares climbed to a three-month high.

The Kolkata company will commission, maintain and operate the water supply projects being developed in the cities of Pokharan, Balotra and Siwana for 10 years, according to a statement filed to the stock exchange today.

SPML Infra’s stock surged as much as 18 percent to the highest since Aug. 17 in Mumbai trading. It traded at 73 rupees, up 14 percent, as of 3:20 p.m local time.

To contact the reporter on this story: Karthikeyan Sundaram in New Delhi at kmeenakshisu@bloomberg.net

To contact the editor responsible for this story: Neil Denslow at ndenslow@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.