Pratibha Industries secures a contract from Municipal Corporation of Brihanmumbai

Pratibha Industries Ltd has announced that the Company has secured a contract from Municipal Corporation of Brihanmumbai for construction of a Tunnel and allied works from Malabar Hill to Cross Maidan for transportation of water in joint venture with Patel Engineering Ltd. The value of the contract is Rs 1.567 billion. The project is to be executed in 37 months.

The project involves "construction of a 3.5 Km Tunnel of 2800 mm diameter with shafts and allied works from Malabar Hill to Cross Maidan for transportation of water. The Tunnel shall be approximately 90 meters below the ground level. About one km of the Tunnel shall pass below the sea opposite Chowpatty".

The Company is engaged in infrastructure business with key focus on water segment. As the Company moves ahead, it has laid increased emphasis on devising its business strategy on aggressive top line growth, a de-risked business model and increased operational efficiencies.

The stock was trading at Rs.210.50, up by Rs.3.15 or 1.52%. The stock hit an intraday high of Rs.213.75 and low of Rs.203. The total traded quantity was 102397 compared to 2 week average of 114507.

Source : Equity Bulls

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