Era Constructions receives Contract from Hyderabad Urban Development Authority

Era Constructions India Ltd has announced that Era Infra Engineering Ltd (EIEL) jointly with Induni CIE & SA., a 100 year old Swiss company and an acknowledged market leader in the highway construction has bagged a prestigious order "Design, Construction, development, Finance, Operation and Maintenance of Eight lane access controlled highway under Phase-II A Programme as an extension of Phase I of ORR to Hyderabad City, in the State of Andhra Pradesh, India, for the package from Narsingi to Kollur from Km 0.00 to Km 12.00 on Build, Operate and Transfer (BOT) (Annuity) Basis through an Special Purpose Vehicle (SPV) Company M/s Hyderabad Ring Road Project Pvt. Ltd.

This would help decongest the traffic flow on the existing major arterials and relieve congestion on metropolitan area and inner ring road and meet the future demand.

The stock was trading at Rs.492.65, down by Rs.25.90 or 4.99%. The stock hit an intraday high of Rs.520.15 and low of Rs.492.65. The total traded quantity was 46056 compared to 2 week average of 197901.

Source : Equity Bulls

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