Construction company Madhucon Projects has received an order worth Rs 196.24 crore from Northern Coalfields (NCL).

The order worth Rs 196.24 crore is for removal of over burden at Jayant OCP of NCL.

The company said, "Northern Coalfields has awarded the work of removal of over burden at its Jayant OCP (open cast project) for a contract price of Rs 196.24 crore."

The project is scheduled to be finished by the next three years.

Earlier, the company received a contract worth Rs 300 crore from the National Highway Authority of India for a road project in Rajasthan.

Established in 1983, Andhra Pradesh-based Madhucon Projects was converted into a private limited company in 1990, and went public in 1995.

The company specializes in construction of highways, dams, canals, power projects and coal mines.

At 3:17 p. m., the company shares gained 5% to hit its upper circuit limit of Rs 120.50 on the BSE. The total volume of the shares traded stood at 4,319.