MBL Infrastructures rises on bagging project worth Rs 1,021 crore from NHAI

07 Nov 2016

MBL Infrastructures is currently trading at Rs 100.00, up by 1.05 points or 1.06% from its previous closing of Rs. 98.95 on the BSE.

The scrip opened at Rs. 101.00 and has touched a high and low of Rs. 103.00 and Rs. 99.05 respectively. So far 45495 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 236.00 on 30-Dec-2015 and a 52 week low of Rs. 62.25 on 06-Sep-2016.

Last one week high and low of the scrip stood at Rs. 107.00 and Rs. 95.00 respectively. The current market cap of the company is Rs. 416.00 crore.

The promoters holding in the company stood at 37.45%, while Institutions and Non-Institutions held 18.42% and 44.13% respectively.

MBL Infrastructures (MBL) bags project worth Rs 1,021 crore on DBFOT Hybrid Annuity basis by National Highways Authority of India (NHAI). The project is for four lane of Tarsod - Fagne (Package-IIB) Section of NH-6 from 422.700 km to 510.000 km in the state of Maharashtra to be executed on Hybrid Annuity Mode under NHDP phase IV.

During Construction 40% of the bid project cost (Rs 408.40 crore) will be funded by NHAI and the balance 60% (Rs 612.60 crore) will be arranged by the concessionaire. During the operation period, NHAI will pay concessionaire this 60% (adjusted for inflation during construction period) in semi-annual payments along with interest thereon at Bank Rate + 3% and also semi-annual payments for Operations & Maintenance totaling Rs 134.85 crore for the project (which will be further adjusted for inflation). The share of company in the consortium is 51%.

MBL Infrastructures is engaged in the construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients.

Related MBL Infrastructures Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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