MEP Infrastructure Developers hits record high

MEP Infrastructure Developers rose 5.91% to Rs 64.50 at 14:40 IST on BSE after receiving letter of acceptance from National Highways Authority of India for collection of user fee for Gaurau toll plaza in Uttar Pradesh.

The announcement was made during market hours today, 7 July 2015.

Meanwhile, the S&P BSE Sensex was down 20.35 points or 0.07% at 28,188.41.

On BSE, so far 5.01 lakh shares were traded in the counter as against average daily volume of 6.53 lakh shares in the past one quarter.

The mid-cap infrastructure development company hit a high of Rs 65.75, also a record high for the stock. The stock hit a low of Rs 61 so far during the day. The stock hit a record low of Rs 45.25 on 19 June 2015.

MEP Infrastructure Developers said that it has been awarded the rights for collection of user fee through fee collecting agency on the basis of competitive bidding though e-tender for Gaurau (Semra, Atikabad] toll plaza for the Makhanpur - Etawah & Etawah Bypass Section on NH No.2, in the State of Uttar Pradesh; by the National Highways Authority of India (NHAI). MEP has received the letter of acceptance (LOA) on 6 July 2015 from NHAI. The operations will be commenced within 12 days of the LOA. The period of the contract is 12 months. The contractual amount of the said project is Rs 59.40 crore and payable to NHAI on a weekly basis over a period of 12 months.

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