New order boosts Sadbhav Engineering

Sadbhav Engineering rose 3.37% to Rs 201 at 10:25 IST on BSE after the company said that the JV led by the company has been awarded the project/work by South West Mining, Barmer, Rajasthan in the name of JV known as Sadbhav - Vishnushiva.

The announcement was made after market hours on Wednesday, 9 July 2014.

Meanwhile, the S&P BSE Sensex was down 6.37 points or 0.03% at 25,438.44.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 62,000 shares in the past two weeks.

The stock hit a high of Rs 203.55 and a low of Rs 199.50 so far during the day.

Sadbhav Engineering said that the joint venture (JV) led by the company has been awarded the project/work by South West Mining, Barmer, Rajasthan in the name of joint venture known as Sadbhav - Vishnushiva (JV). The contract value is Rs 150 crore. Sadbhav Engineering has 75% share in the JV.

Sadbhav Engineering's net profit jumped 211.6% to Rs 36.02 crore on 13.8% growth in net sales to Rs 798.69 crore in Q4 March 2014 over Q4 March 2013.

Sadbhav Engineering is a construction firm with focus on road, irrigation and mining projects.

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