Sadbhav Engg jumps 5% on big order from Coal India arm
Sadbhav Engineering jumped nearly 5 percent intraday on Monday after the company received order worth Rs 697.35 crore from Northern Coalfields (A subsidiary of Coal India).
The project work includes excavation of overburden of first dig (solid) by hiring of equipment such as excavator, dumpers/trippers, drills, dozers, graders and water sprinklers for composite work consisting of blast hole drilling, excavation, loading, transportation of broken rocks/soil/earth, unloading/dumping, spreading, dozing, water sprinkling and grading etc. The total quantity for the excavation of over burden is 100 million BCM.
At 14:53 hours IST, shares rallied 3.86 percent to Rs 112.90 amid hefty volumes on Bombay Stock Exchange.
Trading volumes spiked 252 times to 4,47,819 equity shares as against five-day average of 1,772 shares. Market capitalisation of the company currently stands at Rs 1,703.99 crore.