Dhruv Consultancy receives LOA for Engineering Services for Sikar - Bikaner Section of NH-11; stock surges ~7%

12 Jul 2022 , 12:54 PM

Dhruv Consultancy Services Limited informed that it has received the Letter of Acceptance (LOA) for the Independent Engineering Services during the Development and Operation of Sikar – Bikaner Section of NH-11.

It extends from Km. 340.188 of NH-11 to Km. 557.775 of NH-11 via Sikar Bypass and Bikaner Bypass. Further, from Km. 553.869 of NH-11 to Km. 267.325 of NH-89 by two-laning with a paved shoulder in the state of Rajasthan via a Public-Private Partnership on Design, Finance, Build, Operate, and Transfer (the DBFOT), from the office of the Chief Engineer.

The fees for Individual Engineering Services for the said project will be Rs4.15 crore, excluding taxes. The contract period is expected to be completed within a period of 36 months.

The Company must submit the Performance Bank Guarantee/Security within 7 days of receiving the LOA, after which all statutory formalities, including the signing of the contract agreement as per the RFP, must take place.

At around 1.04 PM, Dhruv Consultancy was trading 6.53% higher at Rs49.75 against its previous close of Rs46.70 on NSE. It touched intraday high and low of Rs54.10 and Rs48.10 respectively, so far.