Valecha Engineering is currently trading at Rs. 66.75, up by 9.15 points or 15.89% from its previous closing of Rs. 57.60 on the BSE.
The scrip opened at Rs. 59.20 and has touched a high and low of Rs. 68.80 and Rs. 59.15 respectively. So far 7126 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 174.80 on 02-Dec-2010 and a 52 week low of Rs. 51.00 on 24-Nov-2011.
Last one week high and low of the scrip stood at Rs. 68.80 and Rs. 56.45 respectively. The current market cap of the company is Rs. 112.49 crore.
The promoters holding in the company stood at 49.07% while Institutions and Non-Institutions held 5.83% and 43.20% respectively.
Valecha Engineering will begin commercial operations for its first BOT road toll project ‘Valecha LM Toll’. The said project is a 4 lane green field highway of 34.3 Kilometers connecting SH-31, crossing NH-59 and meeting NH-3 for Madhya Pradesh Road Development Corporation (MPRDC) concession period of 25 years. The Rs 281 crore project was accomplished within a record time of 13 months as against 24 months schedule from the appointed date October 28, 2010.
The project site is located in Dhar and Indore district of Madhya Pradesh which has a huge throughput of trucks and multi-axel vehicles and will help reduce travel distance by 19 kilometers, easing thorough traffic movement from Delhi to Mumbai and vice versa and would also reduce congestion in Pitampur, a busy industrial area.
With commissioning of this project, what would have taken a trucker roughly two hours and an additional 19 kilometers to traverse, would now take just 40 minutes on the project road. Also, as an indirect benefit of the project coming up in the region, it will lead to an overall development in and around the adjoining areas.
Valecha Engineering is engaged in the construction of major infrastructure and engineering projects such as irrigation dams, reservoirs and canals, roads, highways and expressways, bridges and tunnels, railways, airports and foundation and piling works.