Sadbhav Engineering Ltd JV receives LOA from Gujarat Metro Rail Corporation for Rs. 779.73 crores project

Sadbhav Engineering Ltd. (SEL) has received Letter of Acceptance ("LOA") from Gujarat Metro Rail Corporation (GMRC) Limited for the following for Metro Rail Project for a contract value of Rs. 779.73 Crores.

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 Construction period of Metro Rail Project will be 30 months from date of issue of Letter of Acceptance (i.e. 08-01-2021).

Shares of SADBHAV ENGINEERING LTD. was last trading in BSE at Rs.62.05 as compared to the previous close of Rs. 64.55. The total number of shares traded during the day was 123404 in over 1599 trades.

The stock hit an intraday high of Rs. 65.2 and intraday low of 61.35. The net turnover during the day was Rs. 7772733.

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

Source : Equity Bulls

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