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EMS shares jump 15% after emerging as lowest bidder for projects worth ₹209 crore for UP Jal NigamEMS shares rise over 15% after it becomes lowest bidder for two UP Jal Nigam sewer projects in Varanasi worth about ₹208.6 crore, stock up 31% in a month.By Gareema Bangad  April 20, 2026, 11:39:12 AM IST (Published)1 Min ReadShares of EMS Ltd surged over 15% on Monday, April 20, after the company announced that it had been declared the lowest bidder (L-1) for two projects from UP Jal Nigam (Urban), Varanasi.

The combined estimated order value stands at about ₹208.6 crore (excluding GST), the company said in an exchange filing on Friday, April 17.

The projects involve laying of sewer networks and house connections across multiple wards in Varanasi, including surveying, soil investigation, design and supply of materials on a turnkey basis.

The first contract, valued at approximately ₹143.8 crore, is to be executed over 24 months, while the second project, worth about ₹64.8 crore, has a timeline of 18 months.

The contracts have been awarded by a domestic entity, and the company clarified that they do not involve any related party transactions.

As the announcement came during the after-market hours on Friday, shares of EMS rose as much as 15.4% on Monday, reaching an intraday high of ₹398.95. The stock was trading at ₹392.40 as of 11.20 am, still 13.53% above Friday's closing. It has gained more than 31% in the last month, while delivering a negative 41% return over the last 12 months.

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