Sunil Hitech Engineers jumps after winning road project

Sunil Hitech Engineers rose 8.66% to Rs 12.05 at 12:10 IST on BSE after the company said it won a road project worth Rs 982 crore in Maharashtra on hybrid annuity mode.

The announcement was made during trading hours today, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 105.01 points, or 0.36% to 29,272.69.

On the BSE, 8.66 lakh shares were traded in the counter so far, compared with average daily volumes of 5.27 lakh shares in the past two weeks. The stock had hit a high of Rs 12.14 and a low of Rs 11 so far during the day.

The stock hit a 52-week high of Rs 23.43 on 20 October 2016. The stock hit a 52-week low of Rs 7.75 on 24 June 2016.

Sunil Hitech Engineers has recently been mandated through a letter of award (LoA) from National Highways Authority of India (NHAI) to construct and widen the existing 2-lane Bodhre to Dhule road section of NH-211 to four/six lane configuration in Maharashtra for a bid project cost of Rs 982 crore on hybrid annuity model (HAM). The construction of the 67.2 km road also include 2 new road under bridges (ROBs), 6 underpasses, 4 major bridges, 26 minor bridges and 2 new bypasses. The company will be signing the concession agreement soon. The construction period is 2.5 years.

Net profit of Sunil Hitech Engineers rose 2.51% to Rs 13.07 crore on 8.85% rise in net sales to Rs 530.81 crore in Q3 December 2016 over Q3 December 2015.

Sunil Hitech Engineers is a well established player in engineering procurement construction (EPC) and construction of road & bridges, building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants, cooling towers, chimneys, etc. and also in renewable energy sector.

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