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Madhucon Projects spurts on bagging overseas contract

13 Dec 2011

Madhucon Projects is currently trading at Rs 60.15, up by 2.10 points or 3.62% from its previous closing of Rs 58.05 on the BSE.

The scrip opened at Rs 56.50 and has touched a high and low of Rs 62.50 and Rs 56.10 respectively. So far 17485 shares were traded on the counter.

The BSE group 'B' stock of face value Re 1 has touched a 52 week high of Rs 126.00 on 14-Dec-2010 and a 52 week low of Rs 47.00 on 22-Nov-2011.

Last one week high and low of the scrip stood at Rs 62.50 and Rs 53.00 respectively. The current market cap of the company is Rs 428.38 crore.

The promoters holding in the company stood at 57.66% while Institutions and Non-Institutions held 20.95% and 19.97% respectively.

Madhucon Project’s led consortium has received a Letter of Intent (LoI) for setting up a mine mouth coal fired power plant of 300 MW capacity (2X150) at South Samatra in Indonesia. The power plant, which is expected to commence production by next year, is coming next to existing coal mine of PT Madhucon Indonesia at Dawas site.

Further, a special purpose vehicle (SPV) for this purpose shall be formed by Madhucon Projects along with group companies. Madhucon Projects is expected to hold 65% of stake in SPV, while the remaining will be held by group companies. The SPV shall be entering into a power purchase agreement (PPA) with PT.PLN, a government company for 25 years.

Hyderabad, based Madhucon Projects is a major infrastructure company, with interests in National highways, toll road, coal, railways, irrigation, hydel, dams, canals, bridges and flyover projects.

Related Madhucon Projects Ltd. Links:

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