Sadbhav Sizzles Over 12% On Being Lowest Bidder For Road Project

Sadbhav Infrastructure Projects’ stock on Thursday rallied more than 12% as NHAI declared the infra firm as the lowest bidder for the project of 4-Laning of Waranga to Mahagaon (Pkg-I) section of NH-361 in the State of Maharashtra, under NHDP Phase-IV.

The construction period is 910 days from the appointment date and the project cost is Rs 1071 crore. The stock has delivered over 17% in a period of one year, underperforming the BSE Small Cap and Nifty Infrastructure indices over the same time span.

Sadbhav Infrastructure Projects Limited is principally engaged in development, construction, operation and maintenance of infrastructure projects, as well as related consulting and advisory services.

Sadbhav Infrastructure Projects Ltd is currently trading at Rs 103.5, up by Rs 6.85 or 7.09% from its previous closing of Rs 96.65 on the BSE. The scrip opened at Rs 103.95 and has touched a high and low of Rs 108.35 and Rs 102.3 respectively. So far 291053(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3404.26 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 120.4 on 22-Sep-2016 and a 52 week low of Rs 81 on 22-Mar-2016. Last one week high and low of the scrip stood at Rs 99.15 and Rs 92.2 respectively.

The promoters holding in the company stood at 69.28 % while Institutions and Non-Institutions held 11.58 % and 19.13 % respectively. The stock is currently trading above its 200 DMA. 

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