Receipt of Letter of Award from M/s North East Gas Distribution Company

Govt Defence OrderBusiness Updates View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-5.0%Reaction day

₹76.76

prior close

₹72.93

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%-5.2% vs market

Civil Construction peers, median of 87sector-0.4%-4.6% vs sector

On the reaction day the stock moved 5.2 pts less than Nifty Microcap 250 and 4.6 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 87Pending

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AI summary

Oval Projects Engineering Ltd has received a Letter of Award from North East Gas Distribution Company Limited (NEDGCL), a government/PSU entity, for composite construction work of a CGS/CUM Mother Station at Anandnagar in Tripura. The order is valued at Rs. 3.77 crores (Rs. 3,76,84,565.53). The awarding entity is domestic and there is no related party interest. The company also disclosed that it is currently the L1 (lowest) bidder in 5 other contracts from government undertakings/PSUs with a combined value of Rs. 90.19 crores, for which Letters of Award are still awaited.

Likely market impact

Adds to the company's order pipeline from a government/PSU client, providing near-term revenue visibility. The much larger L1 bidder pipeline of Rs. 90+ crores, if converted into awards, could materially boost future revenue for this small-cap company.