Sunil Hitech on 5% UC

Sunil Hitech announced today that it has received an order worth Rs.434 crore from the National Highways & Infrastructure Development Corporation Limited on Engineering, Procurement & Construction (EPC) of Road Project in Arunachal Pradesh. This project is in JV with PCL- Eagle Infra India.

Commenting on the orders Mr. Sunil Gute, Managing Director of Sunil Hitech Enginers said, “With the receipt of these orders, we are continuing our strategy to diversify our order book which will improve our profitability. Our total Order book on Road Segment is now around Rs.1352 crore comprising of 6 projects, in the states of Bihar, Karnataka, West Bengal, and Arunachal Pradesh. With these orders, company is having strong foothold in the road sector. The company proposes to bid for the projects worth Rs. 600 crs in the remaining period of this financial year.”

The company recently split the face value of its equity shares to Re.1 from Rs.10 and it also issued bonus shares in the proportion of one bonus equity share for every one equity share of face value of Re 1/-.

The stock price is locked today at the 5% upper circuit at Rs.12.40 and yesterday it was locked on the 5% lower circuit at Rs.11.42.