Sadbhav Engineering gains on emerging as successful bidder for a project

Sadbhav Engineering rose 2.29% to Rs 116 at 14:11 IST on BSE after the company said it has been declared successful bidder for a contract worth Rs 132.95 crore.

The company made the announcement during trading hours today, 16 April 2013.

Meanwhile, the S&P BSE Sensex was up 315.04 points or 1.72% at 18,672.84.

On BSE, 3,104 shares were traded in the counter as against average daily volume of 51,965 shares in the past one quarter.

The stock hit a high of Rs 117 and a low of Rs 114 so far during the day. The stock had hit a 52-week high of Rs 156.15 on 5 October 2012. The stock had hit a 52-week low of Rs 103.05 on 4 March 2013.

The stock had outperformed the market over the past one month till 15 April 2013, sliding 1.13% compared with the Sensex's 5.51% fall. The scrip had, however, underperformed the market in past one quarter, declining 12.8% as against Sensex's 8.15% fall.

The small-cap company has equity capital of Rs 15.09 crore. Face value per share is Re 1.

Sadbhav Engineering's net profit fell 91.1% to Rs 3.73 crore on 51.2% decline in net sales to Rs 353.42 crore in Q3 December 2012 over Q3 December 2011.

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

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