Mumbai-headquartered Niraj Cement Structural Ltd has notified that it has secured a Letter of Intent (LOI) for contract worth Rs 135.20 crore from Haryana State Roads & Bridges Development Corporation Ltd, Chandigarh.

The scope of work includes construction of Improvement of Modal Punhana Nagina Road, Uttawar Sikrawa to Bhadas Road, Bori Kothi Punhana Road in Mewat / Palwal District.

It may be noted that, the latest contract has been awarded to the Company in joint venture with M/s. J M Mhatre under the name of Niraj-JM Mhatre (Joint Venture). The Participation Ratio for the partners is 75% - Niraj Cement Structurals Ltd and 25%- M/s JM Mhatre.

Niraj Cement Structurals Limited operates as an engineering and construction company focusing primarily on road construction development.

The stock of the company settled the day at Rs 16.30, up 5% compared to previous close of Rs 15.55. The scrip had made 52-week-high and low of Rs 240 and Rs 15 respectively.