Sadbhav Infra rises after emerging as lowest bidder for project

Sadbhav Infrastructure Project was up 2.01% to Rs 137.05 at 14:37 IST on BSE after the company said it has been declared lowest bidder for a stretch of port connectivity project in Andhra Pradesh.

The announcement was made during market hours today, 21 February 2018.

Meanwhile, the S&P BSE Sensex was up 110.81 points or 0.33% at 33,814.40. The S&P BSE Mid-Cap index fell 0.19%, underperforming the Sensex.

On the BSE, 3,859 shares were traded on the counter so far as against average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 138.75 and a low of Rs 134.55 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 stock had underperformed the market over the past one month till 20 February 2018, sliding 8.82% compared with the Sensex's 5.09% fall. The stock had also underperformed the market over the past one quarter, declining 2.54% as against the Sensex's 1.03% rise. The scrip had, however, outperformed the market over the past one year, surging 42.85% as against the Sensex's 17.59% rise.

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

Sadbhav Infrastructure Project has been declared lowest bidder (L1) for four lane connectivity to Visakhapatnam Port road from a stretch of 12.7 kilometers in Andhra Pradesh under Port Connectivity under Bharatmala Pariyojana on Hybrid Annuity Mode. The National Highways Authority of India (NHAI) cost of the project is Rs 396.60 crore.

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 93.8% 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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