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Nila Infrastructures advances after securing two projects

Capital Market 

Nila Infrastructures rose 4.62% to Rs 17 at 9:58 IST on BSE after the company said it has entered into two separate letter of acceptance with Gujarat State Road Transport Corporation for projects.

The announcement was made after market hours yesterday, 21 March 2017.

Meanwhile, the S&P BSE Sensex was down 202.93 points or 0.69% at 29,282.52. The BSE Small-Cap index was down 66.57 points or 0.47% at 13,961.36.

On the BSE, 15.81 lakh lakh shares were traded on the counter so far as against the average daily volumes of 4.09 lakh shares in the past one quarter. The stock had hit a high of Rs 17.35 and a low of Rs 16.80 so far during the day.

The stock had hit a record high of Rs 19.90 on 6 February 2017 and a 52-week low of Rs 10.25 on 24 June 2016. The stock had underperformed the market over the past one month till 21 March 2017, sliding 2.99% compared with the Sensex's 2.52% rise. The scrip had, however, outperformed the market over the past one quarter, rising 22.36% as against the Sensex's 12.36% rise.

The small-company has equity capital of Rs 39.34 crore. Face value per share is Rs 1.

Nila Infrastructures executed one letter of acceptance (LOA) with Gujarat State Road Transport Corporation (GSRTC) for development of 'Amreli Bus Terminal' and another LOA is executed in consortium with Vyapti Infrabuilt for development of 'Modasa Bus Terminal'. The company's share in this consortium is 34%.

Nila Infrastructures' net profit rose 24.7% to Rs 5.61 crore on 17.7% growth in net sales to Rs 50.76 crore in Q3 December 2016 over Q3 December 2015.

Nila Infrastructures is well established player in developing civic urban infrastructure projects on engineering, procurement and construction (EPC), turnkey, public private partnership (PPP) mode, as well as private white label construction and industrial infrastructure projects.

The company also has a long track record of developing and marketing own real estate projects with varied spectrum ranging from affordable housing to luxurious housing. The company has major presence in Gujarat and has expanded footprint into Rajasthan.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, March 22 2017. 09:48 IST
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