Sadbhav Engineering up 2%, signs EPC contract of Rs 855cr with subsidiary co

A labourer works at the construction site of the Delhi-Jaipur national highway in Manesar in the northern state of Haryana, India, July 9, 2015. To match insight INDIA-INFRASCTRUCTURE/ REUTERS/Adnan Abidi - RTX1KM9A

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Share price of Sadbhav Engineering added 2.4 percent intraday as it has signed EPC agreement with its step down subsidiary for Rs 855 crore.

The company has signed an EPC agreement with its step down subsidiary Sadbhav Bangalore Highway worth Rs 855 crore for maintenance and repair works during the development and construction period.

The construction work will be carried out on BRT Tiger Reserve Boundary to Bangalore section of NH-209, a length of 170.92 kms.

The defect liability period shall be 24 months from the earlier of the date of issue of the provisional certificate/ completion certificate for the complete stretch of the project highway.

At 09:44 hrs Sadbhav Engineering was quoting at Rs 311.30, up Rs 8.70, or 2.88 percent on the BSE.

Posted by Rakesh Patil