Business Companies 28 Dec 2016 Sunil Hitech surges ...

Sunil Hitech surges 5 per cent on Rs 434-crore road project win

PTI
Published Dec 28, 2016, 5:31 pm IST
Updated Dec 28, 2016, 5:32 pm IST
On BSE, stock ended day at Rs 12.40 and hit upper circuit with a surge of 5 per cent.
Representational image.
 Representational image.

New Delhi: Shares of Sunil Hitech Engineers today hit the upper circuit on bourses with a surge of almost 5 per cent after the company announced winning a road project worth Rs 434 crore.

On BSE, the stock ended the day at Rs 12.40 and hit the upper circuit with a surge of five per cent. The market capitalisation of the company stood at Rs 468.72 crore.

 

The scrip ended the day on NSE at Rs 12.35 and hit the upper circuit with a jump of 4.66 per cent. On the volume front, close to 25 lakh shares of the company exchanged hands on the bourses.

"The company has been awarded an order worth Rs 434 crore in Arunachal Pradesh for National Highways and Infrastructure Development Corporation Limited on Engineering, Procurement and Construction (EPC) of road project," Sunil Hitech Engineers said in a BSE filing.

"With the receipt of these orders, we are continuing our strategy to diversify our order book which will improve our profitability. Our total order book on road segment is now approximately Rs 1,352 crore comprising of six projects, in Bihar, Karnataka, West Bengal and Arunachal Pradesh," Sunil Hitech Engineers Limited MD, Sunil Gutte said.

 

"The company proposes to bid for the projects worth Rs 6,000 crore in the remaining period of this financial year," he added. Meanwhile, the benchmark Sensex today closed at 26,210.68 points, down 0.01 per cent from its previous close.

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