Announced Thu, 27 Aug · 16:54 IST
SDAT terminates Rs 205.89 crore Global Sports City work order
RPPINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.5%1-day move
₹57.25
prior close
₹57.50
base price
After-mkt
timing
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AI summary
R.P.P. Infra's Rs 205.89 crore EPC contract from Sports Development Authority of Tamil Nadu for the Global Sports City, Chennai project has been terminated. The government decided to restructure and redesign the project on a larger scale, capable of hosting Asian Games-level events, after a change in the state government. The company had started work and incurred substantial expenditure, and is now evaluating its rights and remedies under the contract.
Likely market impact
Negative - loss of a Rs 205.89 crore order. Contract has a no-compensation clause, though company may pursue legal remedies.