Collection rights take a positive toll on MEP Infra's scrip

MEP Infrastructure Developers certainly is the stock to watch for in Aug 23 trade. MEP Infrastructure, the small cap stock has rallied over 4 per cent on an intraday basis. With Sensex and Nifty both trading flat, the scrip as at 12.43 pm was trading at Rs 44.05, up by 4.01 per cent. In the last 5 days, shares have surged by 10 per cent. 52-week High/Low of the company stands at 59.70/34.20.

On Aug 22, post market hours, the Company has informed bourses that it has received a letter of acceptance from National Highway Authority of India. Company has bagged the project pertaining to collection of user fees through a fee collection agency on the basis of competitive bidding. Company has acquired the right to collect the fee at Ghangari Toll Plaza and the period of contract is 1 year. The contract amount for the said project is Rs 79,20, 00,000 crores.

The Company was incorporated as MEP Toll Road Private Limited on August 8, 2002, at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956. The name of the company was changed from MEP Toll Road Private Limited to MEP Infrastructure Developers Private Limited; and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Mumbai, to the aforesaid on November 28, 2011.