Sadbhav Engineering soars on emerging successful bidder for contract worth Rs 263.64 crore

21 Oct 2013

Sadbhav Engineering is currently trading at Rs. 67.70, up by 3.50 points or 5.45% from its previous closing of Rs. 64.20 on the BSE.

The scrip opened at Rs. 64.35 and has touched a high and low of Rs. 68.50 and Rs. 64.00 respectively. So far 24762 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 149.00 on 30-Oct-2012 and a 52 week low of Rs. 52.00 on 16-Sep-2013.

Last one week high and low of the scrip stood at Rs. 71.65 and Rs. 63.50 respectively. The current market cap of the company is Rs. 984.29 crore.

The promoters holding in the company stood at 48.76% while Institutions and Non-Institutions held 41.77% and 9.47% respectively.

Sadbhav Engineering has been declared the successful bidder (L1) in respect of the bids invited by Coal India’s subsidiary, Bharat Coking Coal, Dhanbad for the project/work for contract value of Rs 263.64 crore.

The scope of the project includes hiring of HEMM for removal of OB and extraction and transportation of coal with fire fighting from VIIC, VIIIA, VIII & VII seams of AKWM colliery of Katras Area and Tetulmari colliery of Sijua Area named as ‘Mega Project’ of Katras Area. The total quantity for the removal of over burden (OB) is 235.02 LCM and extraction of coal is 39.90 LMT.

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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