Sadbhav Infra advances after being declared as lowest bidder

Sadbhav Infrastructure Project rose 1.14% to Rs 133.50 at 13:23 IST on BSE after the company was declared as lowest bidder by the National Highways Authority of India for a new hybrid annuity project in Karnataka.

The announcement was made after trading hours yesterday, 6 March 2018.

Meanwhile, the S&P BSE Sensex was down 173.88 points or 0.52% at 33,143.32. The S&P BSE Mid-Cap index declined 174.63 points or 1.08% to 15,993.22.

On the BSE, 30,000 shares were traded on the counter so far as against average daily volumes of 6,868 shares in the past one quarter. The stock had hit a high of Rs 136 and a low of Rs 131 so far during the day. The stock had hit a record high of Rs 157.50 on 11 January 2018 and a 52-week low of Rs 89.65 on 27 September 2017.

The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.

Sadbhav Infrastructure Project was declared 'L-1' bidder by the National Highway Authority of India (NHAI) for new hybrid annuity project in Karnataka. The project involves four-laning of the Tumkur-Shivamogga section on hybrid annuity mode under NHDP Phase - IV in Karnataka (Package - III). The bid price for the project is Rs 933.82 crore and project construction period is 730 days from appointed date.

On a consolidated basis, Sadbhav Infrastructure Project reported a net loss of Rs 41.20 crore in Q3 December 2017, compared with net loss of Rs 69.65 crore in Q3 December 2016. Net sales rose 93.82% to Rs 624.37 crore in Q3 December 2017 over Q3 December 2016.

Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.

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