Moneycontrol
Apr 10, 2017 09:27 AM IST | Source: Moneycontrol.com

Madhucon Projects rises 7%, receives LOA worth Rs 922.64 crore

The company has received LOA worth Rs 173.60 crore from MORTH on EPC mode.

Madhucon Projects rises 7%, receives LOA worth Rs 922.64 crore

Moneycontrol News

Shares of Madhucon Projects added 7.6 percent intraday Monday as it has received Letter of Award (LOA) worth Rs 922.64 crore.

The company’s JV with Shreehari-Hulu has received LOA worth Rs 166 crore from Maharashtra State Road Development Corporation for rehabilitation and construction of Manjarsumbha to Chumbhali Phata of NH-548D to two lane with paved shoulder in the state of Maharashtra on EPC mode.

The company has received another LOA worth Rs 173.60 crore from MORTH on EPC mode.

In another JV with Sharda Construction and Corporation- Shri Satya Saibaba Construction has bagged two contract worth Rs 583.04 crore in Maharashtra on EPC mode.

At 09:21 hrs Madhucon Projects was quoting at Rs 49.40, up Rs 2.30, or 4.88 percent on the BSE.

Posed by Rakesh Patil
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