Sadbhav Engineering Ltd JV declared lowest bidder by GMRC for part of Surat metro rail project

Sadbhav Engineering Ltd has been declared as lowest bidder by Gujarat Metro Rail Corporation (GMRC) Limited for the following Metro Rail projects.

The project is for "Construction of 11.6 K.M. Elevated Viaduct from Kadarsha Ni Nal to Dream City Dead End including ramp for depot entry near Dream City and 10 Stations (Excl. E&M, Architectural Finishing and Roofing) for Surat Metro Rail Project Phase-1, Package-CS1" in the name of SEL-SPSCPL Joint Venture*.

The Letter of Award ("LoA") is expected to receive soon from Gujarat Metro Rail Corporation (GMRC) Limited.

Shares of SADBHAV ENGINEERING LTD. was last trading in BSE at Rs.58.2 as compared to the previous close of Rs. 63.9. The total number of shares traded during the day was 239111 in over 2112 trades.

The stock hit an intraday high of Rs. 65.05 and intraday low of 55.5. The net turnover during the day was Rs. 14399582.

*SEL-SPSCPL JV - Sadbhav Engineering Ltd. (SEL) - 74% & S.P. Singla Constructions Pvt. Ltd. - 26%

Source : Equity Bulls

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