MBL Infra rockets on bagging orders worth Rs 212 crore

16 Aug 2011

MBL Infrastructures is currently trading at Rs. 141.15, up by 7.05 points or 5.26% from its previous closing of Rs. 134.10 on the BSE.

The scrip opened at Rs. 135.00 and has touched a high and low of Rs. 143.95 and Rs. 135.00 respectively. So far 5356 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 292.90 on 17-Sep-2010 and a 52 week low of Rs. 125.00 on 09-Aug-2011.

Last one week high and low of the scrip stood at Rs. 143.95 and Rs. 125.00 respectively. The current market cap of the company is Rs. 234.86 crore.

The promoters holding in the company stood at 57.32% while Institutions and Non-Institutions held 15.73% and 26.95% respectively.

MBL Infrastructures has bagged the project worth about Rs 212 crore for developing the Seoni-Katangi to Maharashtra Border Section of State Highway-54 of Madhya Pradesh on BOT (toll) basis by Madhya Pradesh Road Development Corporation (MPRDC). The concession period is 30 years and MPRDC will contribute non-refundable grant/subsidy of Rs 59.85 crore. The length of the project highway is 75.60 km and the construction period is 730 days. The project will be executed through a 100% owned subsidiary.

The Project Road is in Seoni and Balaghat districts of Madhya Pradesh and passes through important towns of Seoni, Ari, Tighra, Kehaji, Paraswada and Katangi. The project road is used for transportation of manganese, coal and other minerals extracted in the nearby mines; items like Bamboo, herbs, teak, sal etc. from nearby forests; and agricultural products amongst others. The road is also used by tourists visiting nearby attractions like Pench National Park or Kanha National Park.

The company has also bagged a project for construction of a Five-Star Hotel and other orders totaling Rs 95 crore.

MBL Infra is into civil engineering projects with specialization in roads and highways. The company is managed by a qualified team having good experience. It owns a large fleet of sophisticated construction equipments. It has its own RMC plants and hot mix plants. It engages in its own mechanized stone aggregate quarrying and crushing to ensure assured and timely supply of top class quality stone aggregates at a low cost.

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