MEP Infra jumps on buzz of overseas tie-ups for road projects

MEP Infrastructure Developers surged 5.43% to Rs 93.15 at 14:21 IST on BSE on reports that the company is in talks with overseas companies for road projects tie ups.

Meanwhile, the S&P BSE Sensex was up 102 points or 0.33% at 31,197.70. The S&P BSE Small-Cap index advanced 124.83 points or 0.81% at 15,578.89.

On the BSE, 5.44 lakh shares were traded on the counter so far as against the average daily volumes of 8.95 lakh shares in the past two weeks. The stock had hit a high of Rs 93.45 and a low of Rs 89 so far during the day. The stock had hit a record high of Rs 103.75 on 8 June 2017 and a record low of Rs 34 on 24 November 2016.

The stock had outperformed the market over the past one month till 12 June 2017, advancing 21.53% compared with the Sensex's 3.01% rise. The stock had also outperformed the market over the past one quarter, gaining 92.69% as against the Sensex's 7.43% rise. The scrip had also outperformed the market over the past one year, surging 130.98% as against the Sensex's 16.74% rise.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

Reports further added that MEP Infrastructure Developers is also in talks with two large overseas funds to form a joint venture to bid for projects under the new toll-operate-transfer (TOT) model.

On consolidated basis, MEP Infrastructure Developers reported net profit of Rs 12.04 crore in Q4 March 2017, as against net loss of Rs 8.20 crore in Q4 March 2016. Net sales declined 15% to Rs 431.61 crore in Q4 March 2017 over Q4 March 2016.

MEP Infrastructure Developers is one of the leading infrastructure operators and toll management companies.

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