@resjudicata They have contracts for Mumbai and Pune metro. This makes sense now. If it’s linked to this, I guessing it’s short term because the work will eventually need to be completed.
They have solid results and I was expecting for their share price to increase after Sitharaman's announcement about 10,000 crore worth of infra projects development. I'm not seeing any news of big developments either, so can't explain the drop.