Pratibha Industries secures second 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 at Modak Sagar for transportation of water in joint venture of Ostu - Stettin Hoch u Tiefbau GmbH, an Austrian Company. The value of the contact is Rs 222.52 crores. The project is to be executed in 48 months.

The project involves "construction of a 7.5 km Tunnel of 4100 mm diameter with allied works such as intake and pipeline for transportation of water. The Tunnel shall be approximately 90 meters below the ground level."

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.220.50, up by Rs.5 or 2.32%. The stock hit an intraday high of Rs.224.90 and low of Rs.214.90. The total traded quantity was 84403 compared to 2 week average of 183213.

Source : Equity Bulls

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