Era Infra Engg hits the roof after winning contract

Era Infra Engineering hit an upper circuit limit of 5% at Rs 6.97 at 9:43 IST on BSE after the company said it won a road development project in Chattisgarh worth Rs 328.71 crore.

The announcement was made after trading hours yesterday, 12 January 2015.

Meanwhile, the BSE Sensex was almost flat at 27,585.94.

On BSE, so far 1.61 lakh shares were traded in the counter, compared with an average volume of 3.50 lakh shares in the past one quarter.

The stock hit a low of Rs 6.70 in early trade. The stock hit a 52-week high of Rs 36.05 on 13 June 2014. The stock hit a 52-week low of Rs 3.42 on 22 December 2014.

The stock had outperformed the market over the past one month till 12 January 2015, rising 44.35% compared with 0.86% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 51.92% as against Sensex's 4.90% rise.

The small-cap company has an equity capital of Rs 36.36 crore. Face value per share is Rs 2.

Era Infra Engineering said it has been awarded the rehabilitation and upgradation of national highway (NH)-216 (Raigarh to Sarapalli Section) in Chattisgarh to two-lanes with paved shoulders under National Highway Development Project (NHDP) Phase-IV on EPC (engineering, procurement and construction) basis at an estimated cost of Rs 328.71 crore.

Era Infra Engineering reported net loss of Rs 199.80 in Q2 September 2014 compared with net loss of Rs 203.07 crore in Q2 September 2013. Total income fell 45.7% to Rs 362.02 crore in Q2 September 2014 over Q2 September 2013.

Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports.

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