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EMS Limited shares surged more than 14% in intraday trade on Monday after the company announced that it has emerged as the lowest bidder (L-1) for a major sewer infrastructure project awarded by UP Jal Nigam (Urban), Varanasi.
At around 11:45 AM, EMS shares were trading near their day's high after attracting strong buying interest following the order-related development.
EMS Secures L-1 Status for ₹102.85 Crore Project
According to the company's exchange filing, EMS Limited has been declared the lowest bidder (L-1) by UP Jal Nigam (Urban), Varanasi, for a sewer network and house connection project in Uttar Pradesh.
The estimated value of the project is approximately ₹102.85 crore, excluding GST.
The project is aimed at improving sewer infrastructure in Varanasi and covers four wards—Shivpurwa, Tulasipur, Birdopur, and Kajipura—which are among the 18 problematic wards identified under Nagar Nigam, Varanasi.
Scope of Work
The project will be executed on a turnkey basis and includes:
- Surveying and soil investigation
- Design and engineering activities
- Supply of materials
- Labour deployment
- Laying and jointing of sewer networks
- Providing sewer house connections
- Complete execution of sewer infrastructure works
The order is expected to strengthen EMS Limited's order book and enhance its presence in the water and wastewater management segment.
Project Completion Timeline
As per the regulatory filing, the project is scheduled to be completed within 24 months from the commencement date.
The contract has been awarded by a domestic government entity. EMS Limited clarified that neither its promoters nor promoter group entities have any interest in the awarding authority. The company further stated that the contract does not qualify as a related-party transaction.
EMS share price Performance
The order announcement triggered strong investor interest, pushing EMS shares sharply higher during the trading session.
EMS share price Data (11:45 AM):
- Current Trading Range: ₹297.85 – ₹338.85
- Previous Close: ₹290.85
- Opening Price: ₹298.95
- Intraday Gain: Over 14%
- 52-Week Low: ₹256.05
- 52-Week High: ₹655.00
- Live Volume: 70.67 lakh shares
The stock touched an intraday high of ₹338.85, reflecting strong market optimism regarding the company's future revenue visibility and execution pipeline.
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