India, April 8 -- Shares of a century-old Indian construction conglomerate surged nearly 10%,after veteran market investor Madhusudan Kela acquired a 1.21% strategic stake in the company. The move has reignited investor interest in the debt-laden infrastructure firm, widely seen as a contrarian bet on its sizable order book and an underappreciated valuation gap.

With a market cap of Rs. 1,474 Cr, the shares of Simplex infrastructure Ltd. surged almost 10% from the previous day's closing price of Rs. 170. 6 to Rs. 189.6 in the Wednesday trading session. Currently, the stock is trading at a P/E of 27.5 and has a ROE of -4.4%.

What's the News Shares of Simplex Infrastructures, a century-old construction company founded in 1924, surged near...