Sunil Hitech rises 8% on orders win worth Rs 936 crore

Share price of Sunil Hitech Engineers gained 8 percent intraday Thursday as it has received four road projects in the state of Maharashtra and Jharkhand.

The company has been awarded orders worth Rs 935.91 crore on EPC basis in the state of Maharashtra and Jharkhand.

The orders includes, rehabilitation & upgradation of Parli-Pimpla-Dahiguda Road to two/four lane with paved shoulder in Maharashtra on EPC basis from Public Works Department (PWD), Maharashtra worth Rs 134.45 crore.

The other order is rehabilitation & Augmentation of four laning of Kutchery Chowk-Ranchi-Piska More-Biju Para section of NH-75 in the state of Jharkhand on EPC mode from National Highway Authority of India (NHAI), worth Rs 235.90 crore.

The third order is worth of Rs 257.40 crore for rehabilitation and upgradation of Ajanta-Buldhana-Khamgaon-Shegaon-Deori Road in Maharashtra on EPC basis from Public Works Department (PWD), Maharashtra.

Also, the Public Works Department (PWD) of Maharashtra has awarded a contract worth Rs 308.16 crore for rehabilitation & upgradation of Nanded-Bhokar-Himayatnagar-Kinwat-Sarkhani-Mahur-Arni-Road to two-lanes with paved shoulders in Maharashtra on EPC basis.

The company has received Letter of Award in regards to the same and will be signing the EPC agreement soon.

All the aforesaid projects have been won in joint venture with other companies and Sunil Hitech Engineers will be executing 100 percent of the work.

Sunil Gutte, Managing Director of Sunil Hitech Engineers said, “These orders will help consolidate our position in the road sector and is in line with the company's vision to be a major player in the road sector."

"These order further showcases the steps the company is taking to step up business in other infrastructure verticals such as roads and building construction apart from power related works and diversify our order book and is a major milestone on our way to become an infrastructure conglomerate," he added.

At 12:04 hrs Sunil Hitech Engineers was quoting at Rs 12.97, up Rs 0.99, or 8.26 percent on the BSE.

Posted by Rakesh Patil