Sunil Hitech bags new order; stock soars by 8%

India Infoline News Service | Mumbai | March 23, 2017 12:35 IST

Sunil Hitech Engineers Limited has bagged a road project worth Rs 982 cr in Maharashtra on a hybrid annuity mode from the National Highways Authority of India (NHAI).

Sunil Hitech Engineers Limited has bagged a road project worth Rs 982 cr in Maharashtra on a hybrid annuity mode from the National Highways Authority of India (NHAI).
 
This new order in the State of Maharashtra is the first hybrid annuity project for the company.
 
The project involves construction and widening of the existing 2-lane Bodhre to Dhule road section of NH-211 to four/six lane configuration.
 
The project includes 67.2 km road construction with two new ROBs, six underpasses, four major and 26 minor bridges and two new bypasses.
 
The execution of the project is likely to start in next three to five months. The project is likely to get completed in 30 months from its start.
 
The Company also has projects worth Rs 2000 cr in pipeline.
 
Sunil Hitech Engineers Limited is a well-established player in EPC and construction of road & bridges, building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants, cooling towers, chimneys, etc. 
 
Stock View:
 
Sunil Hitech Engineers Ltd is currently trading at Rs 11.85, up by Rs 0.76 or 6.85% from its previous closing of Rs 11.09 on the BSE.
 
The scrip opened at Rs 11.12 and has touched a high and low of Rs 12.14 and Rs 11 respectively. So far 6254245(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 419.21 crore.
 
The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 23.43 on 20-Oct-2016 and a 52 week low of Rs 7.75 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 11.85 and Rs 10.89 respectively.
 
The promoters holding in the company stood at 35.37 % while Institutions and Non-Institutions held 0.19 % and 64.44 % respectively.
 
The stock is currently trading above its 200 DMA.

***Note: This is a NSE Chart

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