Sadbhav Engineering rises as its JV wins project worth Rs 471.78 crore

17 Dec 2012

Sadbhav Engineering is currently trading at Rs. 135.60, up by 1.05 points or 0.78% from its previous closing of Rs. 134.55 on the BSE.

The scrip opened at Rs. 134.00 and has touched a high and low of Rs. 138.80 and Rs. 133.90 respectively. So far 22,355 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 161.00 on 30-Mar-2012 and a 52 week low of Rs. 94.00 on 30-Dec-2011.

Last one week high and low of the scrip stood at Rs. 137.90 and Rs. 130.00 respectively. The current market cap of the company is Rs. 2,046 crore.

The promoters holding in the company stood at 47.42% while Institutions and Non-Institutions held 40.89% and 11.68% respectively.

Sadbhav Engineering’s joint venture (JV) - Sadbhav-Annapurna has been declared as the successful bidder for contract value of Rs 471.78 crore in respect of the bid invited by Bharat Cocking Coal (A subsidiary of Coal India) Dhanbad.

The contract includes hiring of HEMM for removal of OB, extraction and transportation of coal from Khudia, Palasia, GP (Top), GP (Bottom), Brindabanpur (Top & Bottom) and Kalimati group of seams at Basantimata- Dahibari Patch of Dahibari Colliery of C.V. Area.

The total quantity for the removal of over burden (OB) is 397.34 LCM and extraction of coal is 65.54 LMT. The company will lead the joint venture with 80% participation share.

Sadbhav Engineering (SEL) is one of the largest BOT developers in the road sector in India with good project execution skills. SEL operates in the four distinct business areas in the infrastructure sector viz. BOT road projects, cash contract-based road projects, irrigation projects and mining.

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