MEP Infrastructure Developers surges on getting LoA for project in Maharashtra
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MEP Infrastructure Developers is currently trading at Rs. 22.40, up by 0.60 points or 2.75% from its previous closing of Rs. 21.80 on the BSE.
The scrip opened at Rs. 21.90 and has touched a high and low of Rs. 22.40 and Rs. 21.90 respectively. So far 460 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.95 on 14-Oct-2021 and a 52 week low of Rs. 12.90 on 09-Nov-2020.
Last one week high and low of the scrip stood at Rs. 22.50 and Rs. 21.05 respectively. The current market cap of the company is Rs. 399.91 crore.
The promoters holding in the company stood at 61.98%, while Institutions and Non-Institutions held 11.13% and 26.89% respectively.
MEP Infrastructure Developers in joint venture with Ozoneland has received Letter of Award (LoA) from Public Works Department (PWD), Government of Maharashtra. The LoA is for HAM PN-153 Improvements to Solapur Ring Road SH 205 km 0/00 to 28/800, 29/800 to 44/600, 48/400 to 54/150 and km 62/00 to 66/550, in the state of Maharashtra under Hybrid Annuity Mode.
The bid project cost is Rs 183.42 crore and first year Operation and Maintenance (O&M) cost is Rs 3.33 crore. The company will receive semi-annual annuity from PWD, Government of Maharashtra post Commercial Operation Date (COD).
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.
