Sadbhav Engineering up 5% on NHAI order
Shares of Sadbhav Engineering surged nearly 5 per cent after the firm, in consortium with two other infrastructure companies, bagged an order worth Rs 1,415 crore from the National Highway Authority of India for a road project.
By ET Bureau |
MUMBAI: Shares of Sadbhav Engineering surged nearly 5 per cent after the firm, in consortium with two other infrastructure companies, bagged an order worth Rs 1,415 crore from the National Highway Authority of India for a road project.
Shares of Sadbhav Engineering surged 4.99 per cent and touched its upper circuit of Rs 324.20 in the afternoon trade on the Bombay Stock Exchange.
The order was for developing a road project in Maharashtra on Build, Operate and Transfer basis, Sadbhav Engineering said in a statement to the BSE. Sadbhav Engineering holds 36 per cent stake in this road project, the company said.
The scope of work includes designing, construction, operation and maintenance of four/six laning of Dhule section of National Highway 3 along the Madhya Pradesh-Maharashtra border.
"The concession period of the project is 18 years, which includes the construction period of 30 months," it added.
Shares of Sadbhav Engineering surged 4.99 per cent and touched its upper circuit of Rs 324.20 in the afternoon trade on the Bombay Stock Exchange.
The order was for developing a road project in Maharashtra on Build, Operate and Transfer basis, Sadbhav Engineering said in a statement to the BSE. Sadbhav Engineering holds 36 per cent stake in this road project, the company said.
The scope of work includes designing, construction, operation and maintenance of four/six laning of Dhule section of National Highway 3 along the Madhya Pradesh-Maharashtra border.
"The concession period of the project is 18 years, which includes the construction period of 30 months," it added.
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