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C&C Constructions touches roof with JV bagging road projects

21 Mar 2017

C&C Constructions is locked at upper circuit at Rs. 24.15, up by 1.15 points or 5.00% from its previous closing of Rs. 23.00 on the BSE.

The scrip opened at Rs. 24.15 and has touched a high and low of Rs. 24.15 and Rs. 24.15 respectively. So far 1106 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.50 on 19-Sep-2016 and a 52 week low of Rs. 8.12 on 24-May-2016.

Last one week high and low of the scrip stood at Rs. 24.00 and Rs. 21.10 respectively. The current market cap of the company is Rs. 58.52 crore.

The promoters holding in the company stood at 32.41%, while Institutions and Non-Institutions held 9.00% and 58.59% respectively.

C&C Constructions’ joint venture (JV) ‘EPI-C&C’ has been awarded a project by Government of India for construction of two lane road on NH Specifications from Paletwa to India-Myanmar Border (Zorinpui) from Km. 0.00 to Km. 109.02 in Chin State of Myanmar on EPC Mode. The share of C&C in this JV is 60%. The total contract value of the project is Rs 1,518.00 crore.

Further, another JV ‘BSC-C&C’ has been awarded five road projects in the state of Bihar valued at Rs 1,493.40 crore. The share of C&C in this JV is 50%.

C&C Constructions operates as an infrastructure development company in India. The company engages in the construction of highways and airports; laying of optic fiber cables; and maintenance of telecom networks.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323