Kridhan Infra rose 5.76% to Rs 49.60 at 10:23 IST on BSE after the company said its associate company received a letter of intent worth Rs 105 crore.The announcement was made after market hours yesterday, 4 December 2018.
On the BSE, 18,000 shares were traded in the counter so far compared with average daily volumes of 15,000 shares in the past two weeks. The stock had hit a high of Rs 52 and a low of Rs 49.05 so far during the day. The stock hit a 52-week high of Rs 142 on 5 January 2018. The stock hit a 52-week low of Rs 41 on 1 October 2018.
Kridhan Infra (KIL) announced that its associate company Vijay Nirman Company (VNC) has received a LoI (Letter of Intent) worth Rs 105 crore. The company has been mandated to construct major and minor bridges, etc. for package 4 of the Mumbai - Nagpur Super Communication Expressway in Maharashtra. The project is expected to be completed over a period of 12 months.
On a consolidated basis, net profit of Kridhan Infra rose 6.93% to Rs 14.50 crore on 18.96% decline in net sales to Rs 171.90 crore in Q2 September 2018 over Q2 September 2017.
Kridhan Infra is one of the pioneers in introducing the concept of ready-to-use steel for the construction industry in India. The company expanded its business to Singapore, Myanmar, Malaysia, and other South East Asian countries.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)