Financial Wire

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.

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EMS Emerges L1 Bidder for UP Jal Nigam Projects Worth Over INR2 Billion; Shares Rally 9% | Financial Wire