Sadbhav Engineering edges higher

Sadbhav Engineering rose 1.11% to Rs 310 at 11:09 IST on BSE after the company said it has been declared the successful bidder for a highway project in Haryana.

The announcement was made during market hours today, 27 February 2015.

Meanwhile, the S&P BSE Sensex was up 137.89 points or 0.48% at 28,896.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 41,000 shares in the past two weeks.

The stock was volatile. The stock rose as much as 3.63% at the day's high of Rs 317.75 so far during the day. The stock fell as much as 0.52% at the day's low of Rs 305 so far during the day.

Sadbhav Engineering said it has been declared the successful bidder for four-laning of Ambala-Kaithal section of National Highway (NH)-65 in Haryana. The quoted price for the project is Rs 459 crore. Construction period for the project is 2.5 years. Maintenance period for the project is 4 years, Sadbhav Engineering said.

Sadbhav Engineering's net profit rose 45.5% to Rs 37.73 crore on 16.3% growth in net sales to Rs 722.27 crore in Q3 December 2014 over Q3 December 2013.

Sadbhav Engineering is counted among the leading infrastructure companies of India. The company's business currently focuses on Infrastructure projects which include construction of roads & highways, bridges, irrigation supporting infrastructure and mining.

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