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Madhucon Projects’ rises as overseas arm inks power purchase pact with Persero

19 Jul 2012

Madhucon Projects is currently trading at Rs. 38.55, up by 1.50 points or 4.05% from its previous closing of Rs. 37.05 on the BSE.

The scrip opened at Rs. 37.65 and has touched a high and low of Rs. 39.00 and Rs. 37.00 respectively. So far 19,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 93.90 on 08-Sep-2011 and a 52 week low of Rs. 33.35 on 20-Jun-2012.

Last one week high and low of the scrip stood at Rs. 39.00 and Rs. 34.10 respectively. The current market cap of the company is Rs. 284.00 crore.

The promoters holding in the company stood at 57.84% while Institutions and Non-Institutions held 19.92% and 20.81% respectively.

Madhucon Projects’ Indonesia-based subsidiary, PT Madhucon Sriwijaya Power has signed power purchase pact with PT PLN (Persero), Indonesia for supply of power for 25 years from its proposed 300 MW mine mouth coal fire power plant to be set up in South Sumatra, Indonesia at a cost of $410 million. The financial closure is expected to be completed by November/ December, 2012.

With regard to the coal subsidiary -- PT Madhucon Sriwijaya -- which is having three coal mines in Indonesia, one of the mines at Dawas in South Sumatra has commenced production with the monthly target of 25,000 tons.

Madhucon Projects (MPL) is engaged in execution of infrastructure projects, such as construction of national highways, fly-overs, dams, tunnels, aqueducts, bridges, coal handling plants, workshops property development projects including high rise structures, Hospitality and retail industry structures etc. and enjoying substantial non-fund based limits in the form of bank guarantees with banks under Multiple Banking arrangements.

Related Madhucon Projects Ltd. Links:

Madhucon Projects Share Price

6.49 0.30 (4.85%) Jun 22, 14:11
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Company Name CMP
Larsen & Toubro 1499.75
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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