Era Infra Engineering up 5% on road project in Chhattisgarh

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Moneycontrol Bureau

Shares of Era Infra Engineering are locked at 5 percent upper circuit at Rs 6.97 on bagging order in Chhattisgarh for rehabilitation and upgradation of NH-216. There were pending buy orders of 364,459 shares, with no sellers available, at 15:00 hours IST.

"Era received the order for rehabilitation and upgradation of NH-216 from km 3.800 to Km 90.460 (Raigarh to Sarapalli Section) in the state of Chattisgarh to two-lanes with paved shoulders under NHDP-IV on EPC basis," said the company in its filing to the exchange.

The estimated cost of this project stood at Rs 328.7 crore.

Meanwhile, Era Infra allotted 1,79,72,616 zero coupon compulsory convertible debentures (ZCCDs) of face value of Rs 100 per ZCCD on preferential basis to promoters & associates on January 7.

Posted by Sunil Shankar Matkar