Sadbhav Engg bags Rs 382 cr order from NHAI but shares fall

Written By Unknown on Rabu, 20 Maret 2013 | 15.45

Shares of Sadbhav Engineering lost more than 3 percent intraday on Wednesday despite the company receiving order worth Rs 382 crore for 2-laning project.

The company has been a successful bidder for the project that consists of two laning with paved shoulder of Karaikudi-Ramanathapuram section NH-210 from km 94 to km 174 in Tamil Nadu to be executed as DBFOT (annuity) basis under NHDP phase-lll (length 80 km).

The concession period of the project is 15 years including construction period of two years from the appointed date.

Also Read - Rajasthan, Maha projects to generate rev by FY16: Sadbhav

The rating agency CARE has reaffirmed the rating of 'A+' to the proposed issue of non-convertible debenture (NCD) of the company upto Rs 200 crore. "Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk," CARE said.

At 12:18 hours IST, shares lost 3.28 percent to Rs 112.10 on Bombay Stock Exchange.

Market capitalisation of the company currently stands at Rs 1,692.10 crore.



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