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Udayshivakumar Infra touches roof on bagging orders worth Rs 1,057.3 crore in joint ventures with KMCCL
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Udayshivakumar Infra is currently trading at upper limit of Rs. 62.41, up by 2.97 points or 5.00% from its previous closing of Rs. 59.44 on the BSE.
The scrip opened at Rs. 62.41 and has touched a high and low of Rs. 62.41 and Rs. 62.41 respectively. So far 4779 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 88.43 on 25-Jun-2024 and a 52 week low of Rs. 31.00 on 30-Nov-2023.
Last one week high and low of the scrip stood at Rs. 62.41 and Rs. 55.25 respectively. The current market cap of the company is Rs. 345.48 crore.
The promoters holding in the company stood at 65.94%, while Institutions and Non-Institutions held 0.12% and 33.94% respectively.
Udayshivakumar Infra has entered into three joint ventures with KMC Construction (KMCCL) for bidding on national highways project works under the EPC mode in Karnataka. All three joint ventures have won the bidding and become the lowest bidders for projects worth Rs 1,057.3 crore.
The first project is for widening to 4 Lane + Paved Shoulder from Km.111.500 to 148.088 on NH 69(Old NH 206) Honnavar-Chittoor Section in the State of Karnataka on EPC mode valued at Rs 366.19 crore. In this, Udayshivakumar Infra will take 97.75 percent of the revenue, while KMCCL will take the other 2.25 percent.
The second project is worth Rs 299.19 crore for Widening to Two Lane with Paved Shoulders from KB Cross to Chunchanahalli Ch.485+240 to Ch. 523+393 and From Ch. 530+393 to Ch. 534+476 at Nelligere of NH150A in the State of Karnataka on EPC mode. In this, Udayshivakumar Infra’s share is 97.75 percent, KMCCL’s share is 2.25 percent.
The third project valued at Rs 391.92 crore, involves Widening of four NH-548B from Km 80.000 Near Murgundi to Km 140.200 Near Chikkodi excluding Length from Km 118.450 to Km 128.450 In the State of Karnataka on EPC Mode. In this, Udayshivakumar Infra's share is 51 percent, with KMCCL taking 49 percent.
The Joint Ventures are awaiting for Letter of Acceptance (LOA) and agreements are to be executed with National Highways.
Udayshivakumar Infra is engaged in business of civil construction works from State Government, Central Government and Government Civic Bodies and Corporations.
