B.L. Kashyap and Sons bags new project worth Rs 431 cr; stock up nearly 4%

B.L. Kashyap, a leading Civil Engineering and Construction Company has announced that it has secured a new order worth Rs 431 cr.

Mar 02, 2017 02:03 IST India Infoline News Service

Infrastructure
B.L. Kashyap, a leading civil engineering and construction company has announced that it has secured a new order worth Rs 431 cr.

The order of approximately Rs 431 cr involves the following: -

• Compound Wall, Road Crossing and Culvert, Cut & Fill work etc. in Chennai worth approx. Rs 138 crore.
• Structural, architectural finishes and MEP work approx. built up area 13.43 lakhs sq. ft. Delhi-NCR worth approx. Rs 75 crore.
• Civil, structure, finishing, MEP, external development work etc. in Delhi-NCR worth approx. Rs 74 crore.
• Concrete and block work approx. built up area 6.04 lakh sq. ft. in Delhi-NCR worth approx. Rs 39 crore.
• Civil and structural work in Delhi-NCR approx. Rs 20 crore.
• Design and built of RCC (for basement) and steel structure (super structure) built up area approx. 5.70 lakhs sq. ft. in Bangalore worth approx. Rs 85 crore.

The stock witnessed a surge of nearly 4% ahead of the announcements by the company.

Stock view:-

B.L.Kashyap & Sons Ltd is currently trading at Rs 23.65, up by Rs 0.8 or 3.5% from its previous closing of Rs 22.85 on the BSE.

The scrip opened at Rs 22.85 and has touched a high and low of Rs 25.05 and Rs 22.4 respectively. So far 1911290(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 469.43 crore.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 28 on 01-Nov-2016 and a 52 week low of Rs 11.45 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 23.95 and Rs 22.05 respectively.

The promoters holding in the company stood at 67.41 % while Institutions and Non-Institutions held 9.75 % and 22.84 % respectively.

The stock is currently trading above its 100 DMA.

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