Sadbhav Engineering firms up after bagging NHAI contract

Sadbhav Engineering rose 1.37% to Rs 398.35 at 13:54 IST on BSE after the company said it was declared the successful bidder by NHAI for a project.

The announcement was made during trading hours today, 23 February 2018.

Meanwhile, the S&P BSE Sensex was up 289.98 points, or 0.86% to 34,109.48.

On the BSE, 4,577 shares were traded in the counter so far compared with average daily volumes of 7,242 shares in the past two weeks. The stock had hit a high of Rs 403 and a low of Rs 393.60 so far during the day. The stock hit a record high of Rs 438.85 on 11 January 2018. The stock hit a 52-week low of Rs 262 on 11 August 2017.

Sadbhav Engineering said it was declared successful bidder by National Highway Authority of India (NHAI) for construction of NH24 extension 4-lane bypass in Uttar Pradesh on engineering, procurement, construction (EPC) mode.

Length of the project is 31.89 kilometres. The company quoted price of Rs 981 crore. NHAI estimated price is Rs 896.22 crore. Construction period is 3 years.

Net profit of Sadbhav Engineering rose 1.35% to Rs 53.13 crore on 8.12% rise in net sales to Rs 935.07 crore in Q3 December 2017 over Q3 December 2016.

Sadbhav Engineering is a construction company.

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