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Published on 25/02/2021 10:50:22 AM | Source: Accord Fintech

MEP Infrastructure gains on receiving LoA from NHAI for user fee collection at Sergarh Fee Plaza

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MEP Infrastructure Developers is currently trading at Rs. 17.20, up by 1.05 points or 6.50% from its previous closing of Rs. 16.15 on the BSE.

The scrip opened at Rs. 18.00 and has touched a high and low of Rs. 18.00 and Rs. 17.00 respectively. So far 80370 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 39.90 on 26-Feb-2020 and a 52 week low of Rs. 9.43 on 09-Apr-2020.

Last one week high and low of the scrip stood at Rs. 18.00 and Rs. 15.60 respectively. The current market cap of the company is Rs. 296.27 crore.

The promoters holding in the company stood at 61.71%, while Institutions and Non-Institutions held 11.13% and 27.16% respectively.

MEP Infrastructure Developers has received the Letter of Award (LoA) dated February 24, 2021 from National Highways Authority of India (NHAI) informing that MEP has been engaged as the Contractor for the collection of user fee through e-tender for Sergarh Fee Plaza at Km. 97.960 (Old Km 182.175) for the section from Km 143.635 to Km 80.994 (Bhadrak to Balasore Section) of NH-5 in the state of Odisha. The contractual amount for the said Project is Rs 62.73 crore payable to NHAI.

MEP Infrastructure Developers is engaged in tolling operations of the road infrastructure sector, with a pan-India presence. MEP Infra is in the business of pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties.

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