Asia
EMS Emerges L1 Bidder for UP Jal Nigam Projects Worth Over INR2 Billion; Shares Rally 9%
EMS (NSE:EMSLIMITED, BOM:543983) has emerged as the lowest bidder (L1) for two projects awarded by UP Jal Nigam (Urban), Varanasi, with a combined estimated value of about 2.09 billion Indian rupees, according to an Indian bourse filing on Friday.Shares of the company jumped over 9% in Monday's trade.The first project, valued at 1.44 billion rupees, involves sewer network laying and house connections across multiple wards in Varanasi on a turnkey basis, the filing said. The project is set to be completed in 24 months.The second project, worth 648.5 million rupees, covers sewer network works, house connections and construction of a 23 MLD sewage pumping station, with a completion timeline of 18 months, it added.
BOM:543983NSE:EMSLIMITED