Madhucon Projects trades with traction on the BSE

26 Jul 2013

Madhucon Projects is currently trading at Rs. 14.45, up by 0.10 points or 0.70% from its previous closing of Rs. 14.35 on the BSE.

The scrip opened at Rs. 14.50 and has touched a high and low of Rs. 14.80 and Rs. 14.25 respectively. So far 1546 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 42.40 on 08-Jan-2013 and a 52 week low of Rs. 14.10 on 25-Jul-2013.

Last one week high and low of the scrip stood at Rs. 17.60 and Rs. 14.10 respectively. The current market cap of the company is Rs. 106.63 crore.

The promoters holding in the company stood at 57.93% while Institutions and Non-Institutions held 17.39% and 23.69% respectively.

Madhucon Projects is in process to divest four completed road projects and part stake in its power arm, which is implementing a 1,920-MW three-phase thermal power project in Andhra Pradesh. Because of adverse market conditions it is taking time to conclude the deal.

The infrastructure company has considered this sale after considering new guidelines brought about by the NHAI with regard to 100% divestment of stake, which encourages stake sale. With this initiative, the company can offload its interest in completed projects and focus on new ones. After this stake sell it will bring down its overall debt, which is of about Rs 3,500 crore.

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Madhucon Projects Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323