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Sadbhav Engineering plunges after NHAI cancels contract

15 Apr 2013

Sadbhav Engineering is currently trading at Rs. 114.50, down by 1.30 points or 1.12% from its previous closing of Rs. 115.80 on the BSE.

The scrip opened at Rs. 116.25 and has touched a high and low of Rs. 116.75 and Rs. 112.50 respectively. So far 303 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 156.15 on 05-Oct-2012 and a 52 week low of Rs. 103.05 on 04-Mar-2013.

Last one week high and low of the scrip stood at Rs. 117.50 and Rs. 110.00 respectively. The current market cap of the company is Rs. 1698.14 crore.

The promoters holding in the company stood at 47.25% while Institutions and Non-Institutions held 43.19% and 9.56% respectively.

Sadbhav Engineering has received a letter of cancellation from National Highways Authority of India (NHAI)  for project of Two Laning with paved shoulder of Karaikudi-Ramanathapuram Section NH-210 from km 94.000 to km 174.000 (Length 80 km) in the State of Tamil Nadu to be executed as DBFOT (Annuity) basis under NHDP Phase-lll of which company was declared successful bidder.

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.

Related Sadbhav Engineering Ltd. Links:

Sadbhav Engineering Share Price

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SEBI Registered: Investment Adviser - INA000013323