Shares of EMS Ltd. experienced a notable rally on Wednesday, climbing over 6% to Rs 427.15. This significant gain occurred despite a general downturn in the broader market, with the company's market capitalization reaching Rs 2,254 crore.
The surge in stock price was triggered by the waste management firm's announcement that it had emerged as the lowest bidder (L-1) for a major sewerage project awarded by the Delhi Jal Board. The estimated value of this contract is approximately Rs 158.28 crore (inclusive of GST).
Delhi Jal Board Contract Details
The project involves critical sewerage work, specifically “Providing/Laying/Jointing Internal and Peripheral Sewer Lines in Tikri Kalan GOC under the command of proposed STP at Tikri Kalan. NIT-01.” EMS Ltd. is mandated to complete the execution of this contract within a timeframe of 15 months.
About EMS Ltd.
Headquartered in Ghaziabad, EMS Ltd. operates as a multi-disciplinary Engineering, Procurement, and Construction (EPC) company. The firm specializes in comprehensive water and wastewater management solutions. Its services encompass the entire lifecycle of such projects, from design and construction to the operation and maintenance (O&M) of sewerage systems, water treatment plants, and industrial waste treatment facilities.
On Wednesday, a total of 1.17 lakh shares of EMS Ltd. changed hands, resulting in a turnover of Rs 4.88 crore, reflecting strong investor interest following the project announcement.