MBL Infrastructures surges 18% on listing
Shares of MBL Infrastructures listed at Rs 190 per share on the Bombay Stock Exchange against issue price of Rs 185 per share.
By ET Bureau |
MUMBAI: Shares of MBL Infrastructures listed at Rs 190 per share on the Bombay Stock Exchange against issue price of Rs 185 per share.
At 9:09 am, the scrip was at Rs 206.25, up Rs 21.25 or 11.48 per cent on the BSE. It touched a high Rs 218 and low of Rs 190 in early trade.
The stock was at Rs 207.55, up Rs 27.55 or 15.31 per cent on the NSE. It hit a high of Rs 219.40 and low of Rs 185 in trade so far.
MBL Infrastructures is engaged in the construction and maintenance of roads and highways, industrial infrastructure and other civil engineering projects
The proceeds are primarily to be used for investing in capital equipment, meeting working capital needs and other corporate expenses.
The company's revenues have grown at compounded annual rate (CAGR) of 29% since fiscal year 2005 to Rs 514 crore in FY09. Similarly, profits have grown at a CAGR of 33% over the same period to Rs 27.4 crore. MBL is a dividend paying company with a CAGR of 45% over the last five fiscal years. The company's operating and net profit margins stand at 16% and 5% respectively, matching the industry average.
At 9:09 am, the scrip was at Rs 206.25, up Rs 21.25 or 11.48 per cent on the BSE. It touched a high Rs 218 and low of Rs 190 in early trade.
The stock was at Rs 207.55, up Rs 27.55 or 15.31 per cent on the NSE. It hit a high of Rs 219.40 and low of Rs 185 in trade so far.
MBL Infrastructures is engaged in the construction and maintenance of roads and highways, industrial infrastructure and other civil engineering projects
The proceeds are primarily to be used for investing in capital equipment, meeting working capital needs and other corporate expenses.
The company's revenues have grown at compounded annual rate (CAGR) of 29% since fiscal year 2005 to Rs 514 crore in FY09. Similarly, profits have grown at a CAGR of 33% over the same period to Rs 27.4 crore. MBL is a dividend paying company with a CAGR of 45% over the last five fiscal years. The company's operating and net profit margins stand at 16% and 5% respectively, matching the industry average.
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