Sadbhav Infrastructure Engineering rose over 5.5% intra day to Rs.108.15, going very close to its 52-week high of Rs.112.25. Volumes are mind boggling – up from 2W average of around 800 shares to 70,000 shares getting traded today alone.

The stock is up after the company announced that its wholly-owned subsidiary, Bhilwara-Rajsamand Tollway (BRTPL) has received provisional completion certificate and has started toll collection has started on the project.

IBRTPL has received the provisional completion certificate for 86 kilometres (kms) out of total 8,725 km on 4 June 2016 and accordingly toll collection has started on the project from 9 June 2016.

The project involved four laning of Rajsamand-Bhilwara section of National Highway -758 in Rajasthan on design, finance, build, operate and transfer (DFBOT) toll basis was awarded by National Highways Authority of India.

The original concession period for the project is 30 years, which ends on 8 October 2043. Total project cost shall be Rs 676.10 crore out of which equity and sub equity from sponsor shall be Rs 133.30 crore. Rupee term loan of Rs 276.40 crore has been provided by the lenders which is to be repaid upto September 2031. Grant provided by National Highways Authority of India (NHAI) is Rs 266.40 crore.

For Sadbhav Infra, out of total portfolio of 11 projects, 10 projects are operational and 1 project is in advanced stage of construction.