Madhucon Projects hits roof on receiving LoA worth Rs 397 crore from NHAI

19 Mar 2015

Madhucon Projects is currently trading at its upper circuit limit of Rs. 60.95, up by 2.90 points or 5.00% from its previous closing of Rs. 58.05 on the BSE.

The scrip opened at Rs. 60.70 and has touched a high and low of Rs. 60.95 and Rs. 59.50 respectively. So far 67562 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 64.65 on 05-Mar-2015 and a 52 week low of Rs. 12.40 on 26-Mar-2014.

Last one week high and low of the scrip stood at Rs. 63.30 and Rs. 55.00 respectively. The current market cap of the company is Rs. 449.78 crore.

The promoters holding in the company stood at 58.87% while Institutions and Non-Institutions held 4.30% and 36.80% respectively.

Madhucon Projects has received the Letter of Award (LoA) on March 17, 2015 from National Highway Authority of India (NHAI) for the project work amounting Rs 397 crore. The order is for Improvement /Augmentation of two laning with Paved Shoulders from Km 1.600 to Km 80.000 (Existing Chainage) (Design Chainage from Km 1.600 to Km 80.133) of Nagapattinam - Thanjavur Section of NH-67 under NHDP-III on EPC mode (Total Design Length 78.533 Km) in the state of Tamil Nadu.

Madhucon Projects is one of the India’s leading Engineering, Procurement and Construction (EPC) and Build, Operate and Transfer (BOT) contractors and has executed wide ranging projects in the areas of State & National Highways, Bridges, Flyovers, Irrigation Projects (Dams, Canals, Tunnels) Industrial Projects, Townships, Railway Projects etc.

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