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ARSS Infrastructure rises

March 4, 2010

INDIA
Over the past two sessions, ARSS Infrastructure Projects Ltd rose over 80 percent from its issue price of 450 rupees per share.

Shares in the counter ended 10.6 percent higher at 814.65 rupees with volumes of 8.5 million shares on Thursday.

The construction firm listed on BSE on Wednesday at 650 rupees, nearly 45 percent higher than its issue price and ended with volumes of 11.5 million shares.

The firm is raising 1.03 billion rupees through the IPO which closed on Feb 11. The proceeds would be used for working capital, both for the company’s existing and new projects.

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