MBL Infrastructure zooms as its arm completes construction work of original scope of work of BOT project
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MBL Infrastructure is currently trading at Rs. 25.75, up by 2.35 points or 10.04% from its previous closing of Rs. 23.40 on the BSE.
The scrip opened at Rs. 23.20 and has touched a high and low of Rs. 26.75 and Rs. 23.15 respectively. So far 157388 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 43.65 on 20-Jan-2022 and a 52 week low of Rs. 16.75 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 26.75 and Rs. 20.65 respectively. The current market cap of the company is Rs. 264.51 crore.
The promoters holding in the company stood at 68.49%, while Non-Institutions 31.51% stake in the company.
MBL Infrastructure has completed the construction work of original scope of work of Bikaner-Suratgarh Section of NH-62 in the state of Rajasthan in terms of the concession agreement executed by Suratgarh Bikaner Toll Road Company (SBTRCL), a wholly owned subsidiary company. SBTRCL has applied to authority for addition of 5.289 kms for tolling and for the completion certificate of the BOT project in terms of the concessionaire agreement
The Authority had granted provisional completion certificate dated February 15, 2019 for 156.635 kms and for further length of 9.780 kms on March 18, 2021. The toll collection for the additional length of 5.289 kms will start after receiving the completion certificate from the Authority for the additional length.
With the completion of construction work of additional length of 5.289 kms of the BOT project, the toll revenue of Suratgarh Bikaner Toll Road Company is likely to increase accordingly.
MBL Infrastructure (formerly MBL Infrastructures) is engaged in the construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients. MBL has a fast growing business that provides integrated engineering, procurement and construction services for civil construction and infrastructure sector projects.
