Sadbhav Infra gains after signing contract with subsidiary

Sadbhav Infrastructure Project advanced 2.72% to Rs 117.10 at 12:25 IST on BSE after the company announced signing of maintenance contract worth Rs 55 crore with its subsidiary Sadbhav Jodhpur Ring Road.

The announcement was made after market hours yesterday, 19 June 2018.

Meanwhile, the S&P BSE Sensex was up 200.94 points or 0.57% at 35,487.68

On the BSE, 2766 shares were traded on the counter so far as against average daily volumes of 46,000 shares in the past two weeks. The stock had hit a high of Rs 118 and a low of Rs 116 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 has signed a maintenance contract with Sadbhav Jodhpur Ring Road, a wholly owned subsidiary, worth Rs 55 crore for maintenance and repairs works during the development period and construction period.

Sadbhav Jodhpur Ring Road has undertaken the project for four laning of Dangiywas to Jajiwal of NH-65 Nagaur Road of Jodhpur Ring Road in Rajasthan under NHDP Phase-VII.

On a consolidated basis, Sadbhav Infrastructure Project reported net loss of Rs 84 crore in Q4 March 2018, compared with net loss of Rs 95.26 crore in Q4 March 2017. Net sales rose 95.78% to Rs 760.63 crore in Q4 March 2018 over Q4 March 2017.

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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