Nagarjuna Construction builds on new order win: Dec 20 11:45

 

The company made this announcement during trading hours today, 20 December 2007.

Meanwhile, BSE Sensex was up 152.58 points or 0.80% to 19,244.54.

On BSE 24,296 shares were traded in the counter. The stock had an average daily volume of 2.34 lakh shares in the past one quarter.

The stock hit a high of Rs 325 and a low of Rs 312 so far during the day. The stock hit a 52-week high of Rs 358 on 6 December 2007 and a 52-week low of Rs 139 on 8 March 2007.

The mid-cap scrip had underperformed the market over the past one month till 19 December 2007, declining 3.83% as compared to the Sensex's decline of 0.98%. It had outperformed the market in the past one quarter, gaining 30.34% as compared to the Sensex's rise of 16.79%.

The company's current equity is Rs 45.75 crore. Face value per share is Rs 2.

The current price of Rs 320.10 discounts Q2 September 2007 annualized EPS of Rs 6.46 by a PE multiple of 49.55.

One of the two orders, valued at Rs 230 crore, is from the Dakshin Haryana Bijli Nigam (DHBNL), Haryana for an engineering, procurement and construction (EPC) contract on turnkey basis comprising of supply of material and erection of new 11-kilo volt (KV) single circuit lines providing high voltage distribution system (HVDS) in Hisar, Haryana. The project is to be executed within 12 months.

The other order, valued at Rs 77 crore, is from Thane Municipal Corporation, Thane, Maharashtra for water supply scheme. The project is to be executed within 27 months.

On 26 September 2007, Nagarjuna Construction Company (NCC) had bagged three orders totaling Rs 243 crore.

On 19 September 2007, NCC in consortium with Posco E&C of South Korea had bagged an engineering, procurement and construction contract valued at Rs 1558 crore from Steel Authority of India (Sail) for IISCO steel plant at Burnpur, West Bengal.

Nagarjuna Construction Company's net profit rose 2.7% to Rs 33.65 crore on 3.9% growth in net sales to Rs 677.15 crore in Q2 September 2007 over Q2 September 2006.

Nagarjuna Construction Company is engaged in constructing industrial and commercial buildings, roads, bridges, underground drainage and sewerage, stadiums, flyovers, multi-store and duplex apartments, farm and private houses.

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