RKEC Projects Limited has received part payment of Rs37.5cr for completion of the project on “Rural Electrification works of Pratapgarh district in Uttar Pradesh State under Rajiv Gandhi Grameen Vidyutikaran Yojna (RGGVY) - 12th Plan” amounting to Rs120cr.
The project had got halted in April 2018 and resumed in August 2020 and was eventually completed on December 31, 2020.
“We have received a part payment of Rs37.5cr on April 26, 2021. Balance of payment is expected soon,” company said in a regulatory filing on Tuesday.
The company stock was bearish on Wednesday after skyrocketting 15% on Tuesday. At around 12.02 pm, RKEC Projects Limited was trading at Rs61.35 down Rs2.95 or 4.59% on the NSE.