Small-cap stock Enviro Infra surged 15% in intraday trade on the BSE on April 13.(Pexels)AI Quick ReadSmall-cap stock Enviro Infra surged almost 15% in intraday trade on the BSE on Monday, April 13, defying weak stock market sentiment. Enviro Infra Engineers' share price opened at ₹185.05 against its previous close of ₹173.35 and surged as much as 14.9% to an intraday high of ₹199.15. On the other hand, equity benchmark Sensex crashed more than 2% during the session.
The stock saw strong gains after it announced receiving a letter of empanelment for the execution of two projects in Maharashtra.
In an exchange filing on April 11, Enviro Infra said it had received Letter of Empanelments (LoEs) on April 10 for the execution of two projects worth ₹587.208 crore from the Swachh Maharashtra Mission Directorate.
The projects, located in Pune and Nashik, are for the development of sewage treatment plants (STP) under categories I and II, covering Urban Local Bodies (ULBs). All work will be executed on an EPC (engineering, procurement and construction) basis under the Swachh Bharat Mission (Urban) 2.0. The contracts are to be executed in 24 months.
Enviro Infra's share price has seen solid gains in the recent past, while the equity market has been volatile due to the US-Iran war.
According to the BSE data, Enviro Infra shares have gained 31% over the last month compared to a 3% rise in the Sensex. Year-to-date, the stock is down 2% while the Sensex has lost 10%.
The small-cap stock recently hit a 52-week low of ₹135 on March 9 this year after hitting a 52-week high of ₹306.30 on July 18 last year.
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Nishant is a market reporter at Mint, where he holds the official designation of Principal Correspondent – Markets. He has been closely tracking the Indian stock market as well as major global stock markets along with the broader macroeconomic trends for a decade.
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He is obsessed with breaking down complex financial and economic concepts into clear and engaging stories. He focuses not only on what is happening in the markets, but also why it matters.
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With nearly 10 years of experience in covering financial markets, Nishant has covered bull markets, corrections, policy transitions, and macro developments that has equipped him with a deep understanding of how domestic and global forces shape markets and affect investments.
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Before joining Mint, Nishant worked with some of India’s most respected business newsrooms, including The Economic Times and Moneycontrol, where he reported extensively on the stock market, corporate earnings, macroeconomic trends, GDP, inflation, monetary policies of the RBI and the US Federal Reserve, bonds, and currencies.
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