Noida Toll Bridge strengthens on executing settlement agreement with SDMC

26 Dec 2017

Noida Toll Bridge Company is currently trading at Rs. 13.27, up by 0.17 points or 1.30% from its previous closing of Rs. 13.10 on the BSE.

The scrip opened at Rs. 13.04 and has touched a high and low of Rs. 13.40 and Rs. 13.04 respectively. So far 7,358 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 17.23 on 14-Sep-2017 and a 52 week low of Rs. 8.00 on 08-Aug-2017.

Last one week high and low of the scrip stood at Rs. 13.50 and Rs. 12.70 respectively. The current market cap of the company is Rs. 247.08 crore.

The promoters holding in the company stood at 26.37%, while Institutions and Non-Institutions held 12.04% and 61.60% respectively.

Noida Toll Bridge Company has executed a Settlement Agreement with South Delhi Municipal Corporation (SDMC) for resolving the disputes between SDMC and the company. This settles the dispute between the company and SDMC relating to display of Outdoor Advertisements within SDMC jurisdiction.

Through this agreement, SDMC has granted approval to display outdoor advertisements for maximum display area of 31,000 square feet on the South Delhi Side of DND Flyway, for an initial period of 5 years, which may be extended by another 2 years period, on the terms and conditions as agreed between SDMC and the company.

Noida Toll Bridge Company is an infrastructure company. The company’s principal business activities consist of toll revenue and space for advertisement.

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