Shares of IT firm Rolta India today jumped nearly 5 per cent after the company said it has received a multi-million dollar contract from Sadara Chemical Company.
After surging 7 per cent to Rs 61.85 in intra-day trade on the BSE, the stock finally ended at Rs 60.55, up 4.76 per cent from its previous close.
At the NSE, the stock zoomed up by 4.84 per cent to Rs 60.70.
Under the deal, Rolta will implement a comprehensive engineering system at Sadara’s complex, which will be the world’s largest petrochemical facility ever built in a single phase, Rolta said in a statement.
Specific value of the contract was not disclosed.
The project will be managed by a global Rolta team working out of the US, India and Saudi Arabia, and will be completed by late 2014, the statement said.
Sadara represents an alliance between the Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (Dow).