As a partnership obtains contracts to build two bus terminals, Omaxe shares closed on the upper circuit

As a partnership obtains contracts to build two bus terminals, Omaxe shares closed on the upper circuit

On a PPP basis, these bus terminals will be constructed using the Design, Build, Finance, Operate and Transfer (DBFOT) paradigm.

Following the announcement of Omaxe as the winning bidder for the construction of two bus terminals, the company's stock price closed at the upper circuit of 10% in early trading on February 19.

On the BSE, there were 42,229 shares with pending purchase orders and no sellers available.

Omaxe was up Rs 10 at Rs 110.40 at 09:27.

The Uttar Pradesh State Road Transport Corporation (UPSRTC) announced on February 16 that the business has placed a winning proposal for the construction of two bus terminals: one in Ayodhya and one in Amausi, Lucknow, with a land area of 20170 square meters each. Dham on an area of 36426 square meters.

This terminal development will follow the Design, Build, Finance, Operate and Transfer (DBFOT) paradigm, with a PPP base.

When the time comes, UPSRTC will issue a Letter of Loans (LOI) to M/s Omaxe Limited, the consortium's principal member.

The business declared a combined loss for the quarter that ended in December 2023 of Rs 71.77 crore. It lost Rs 109.11 crore at the same time last year.

From Rs 253.81 crore to Rs 601.90 crore in the same time last year, the total revenue from operations increased.

The stock reached its 52-week high on February 8, 2024, of Rs 117.00, and its 52-week low on August 29, 2023, of Rs 42.39.

The stock is now trading 160.44 percent above its 52-week low and 5.64 percent below its 52-week high.