Sadbhav Engg gains after signing EPC contract with unit

Sadbhav Engineering rose 1.78% to Rs 308 at 15:21 IST on BSE after the company said it has signed EPC agreement with its step down subsidiary for Rs 855 crore.

The announcement was made after market hours yesterday, 29 March 2017.

Meanwhile, the S&P BSE Sensex was up 125.78 points or 0.43% at 29,657.21. The BSE Mid-Cap index was up 59.41 points or 0.43% at 13,990.01.

On the BSE, 4,400 shares were traded on the counter so far as against the average daily volumes of 78,729 shares in the past one quarter. The stock had hit a high of Rs 311.30 and a low of Rs 305.40 so far during the day. It had hit a 52-week high of Rs 325 on 23 March 2017 and a 52-week low of Rs 220 on 9 November 2016.

The mid-cap company has equity capital of Rs 17.16 crore. Face value per share is Rs 1.

Sadbhav Engineering has signed an engineering, procurement and construction (EPC) agreement with its step down subsidiary Sadbhav Bangalore Highway worth Rs 855 crore for maintenance and repair works during the development and construction period.

The construction work will be carried out on BRT Tiger Reserve Boundary to Bangalore section of NH-209, a length of 170.92 kms.

The defect liability period shall be 24 months from the earlier of the date of issue of the provisional certificate/completion certificate for the complete stretch of the project highway.

Sadbhav Engineering's net profit rose 82.4% to Rs 52.42 crore on 14.8% growth in net sales to Rs 864.83 crore in Q3 December 2016 over Q3 December 2015.

Sadbhav Engineering is a leading Infrastructure company. It currently focuses on infrastructure projects which include construction of roads & highways, bridges, irrigation supporting infrastructure and mining.

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