Infra Co. Received LOA for Construction of Railway Over Bridge, Shares Jumps 56.87% In 1 Month

Madhav Infra Projects Ltd. on June 20, 2023, informed the exchange that the company has received a Letter of Acceptance (LOA) for the construction of the Railway Over Bridge. The LOA is awarded by the Office of the Executive Engineer Public Work, Department Bridge Construction Division, Sagar (M.P.).

The value of the contract is Rs. 37,07,34,207.90 (Rupees Thirty-Seven Crore Seven Lakh Thirty-Four Thousand Two Hundred and Seven and Ninety Paise Only) and the Time Period by which the Contract is to be executed is 28 months, according to the exchange filing.

Letter of Acceptance (LOA) for Construction of Railway Over Bridge

According to the exchange filing by the company "MADHAV INFRA PROJECTS LIMITED received of Letter of acceptance for Construction of Railway Over Bridge in lieu of Level Crossing No. 70 in Km 1141/16-18 of Bina- Katni Track on Damoh-Badakpur Road, Distt. Damoh (M.P.) from OFFICE OF THE EXECUTIVE ENGINEER PUBLIC WORK, Department Bridge Construction Division SAGAR (M.P.)"

Stock Movement

The stock on Thursday, June 22, closed at Rs. 6.62 apiece, up 3.12% from its previous close of Rs. 6.42 apiece on BSE. The stock touched the upper circuit at Rs. 6.38 apiece on 16 June 2023. It traded the 52 week high on 9 December 2022 at Rs. 6.83 apiece and 52 week low on 16 May 2023 at Rs. 3.55 apiece, respectively.

The stock has given robust returns in the past 3 months compared to the past 1 year. It surged 24.44% in 1 week. It has given 56.87% return in 1 month, and 70.18% return in 3 months, respectively. In 1 year, it gave 59.9% positive return. It has given 10.24% negative return in 3 years. Since its listing, its share value increased 51.83%. It was listed on 24 May 2016 on BSE.