National Highways Logistics Management Ltd declares Nesco Limited as highest bidder for project

National Highways Logistics Management Limited (A 100% owned SPV of National NHAI, Under Ministry of Road Transport and Highways, has declared Nesco Limited as Highest Bidder and has accepted our proposal for Developing, Operating and Maintaining of Wayside Amenities on Hyderabad Visakhapatnam Expressway in Khammam - Devarapalle Section on Lease Basis comprising of 4 sites.

The total cost the Company has to incur for development of Wayside Amenities is estimated at ~ Rs. 50 crores for each of the 4 sites.

The estimated annualised revenue from 4 sites is ~ Rs. 300 crores from year 4 of operations.

The annual lease rent is Rs. 4.29 crores for 4 sites with fixed annual revision basis increase in WPI and CPI.

Shares of Nesco Limited was last trading in BSE at Rs. 1015.45 as compared to the previous close of Rs. 1027.55. The total number of shares traded during the day was 4529 in over 350 trades.

The stock hit an intraday high of Rs. 1031.00 and intraday low of 1014.40. The net turnover during the day was Rs. 4620312.00.

Source : Equity Bulls

Keywords

Nesco INE317F01035 HighestBidder NationalHighwaysLogisticsManagement HyderabadVizagExpressway