Sadbhav Engineering moves up after winning order

Sadbhav Engineering rose 1.03% to Rs 288 at 11:00 IST on BSE after the company announced that it won a project work in Gujarat.

The announcement was made during market hours today, 10 October 2017.

Meanwhile, the S&P BSE Sensex was up 133.92 points or 0.42% at 31,980.81. The BSE Mid-Cap index was up 117.40 points or 0.74% at 15,951.53.

More than usual volumes were witnessed on the counter. On the BSE, 8,925 shares were traded on the counter so far as against the average daily volumes of 2,033 shares in the past two weeks. The stock had hit a high of Rs 293 and a low of Rs 283.70 so far during the day. It had hit a 52-week high of Rs 350.90 on 11 May 2017 and a 52-week low of Rs 220 on 9 November 2016.

Sadbhav Engineering announced that it has been declared as the successful bidder (L1) in respect of the bid invited by executive engineer (Cons), construction division, Kandla Port Trust, Kutch District, Gujarat, for development of land for Smart Industrial Port City (SIPC) location 2 (Kandla) at Kandla-Gandhidham-Adipur Complex.

The bid price for the project was Rs 167.46 crore. The construction period for the project will be 9 months.

Sadbhav Engineering's net profit rose 13.96% to Rs 55.48 crore on 17.02% rise in revenue to Rs 944.35 crore in Q1 June 2017 over Q1 June 2016.

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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