MEP Infrastructure Developers bags new MSRDC contract

In a new development, MEP Infrastructure Development Ltd has bagged a new assignment from Maharashtra State Road Development Corporation Ltd (MSRDC), Mumbai, as a contractor for collection of toll at the toll stations on Bhiwandi-Kalyan Shilphata Highway at Katai Toll Plaza (Ch 4/500) and at Gove Toll Plaza (Ch 18/370).

The toll will be collected at the approved rates specified by Govovernment of India vide toll notification dated October 08, 2016 on only specified vehicles passing over the specified section of road/project as per Letter of Acceptance dated December 23, 2016 received by the company.

The period for the contract is 152 weeks from the date of authorisation by the authority. The contractual amount for this project is Rs 61.65 crore.

Over the past one year, the stock has under performed the broader markets and has delivered negative 25.26 per cent returns. Over the last one month, the stock is down by 0.98 per cent.

The stock is trading at Rs 35.50 per share, down by 0.98 per cent or Rs 0.35 per share on Monday, 26 December. The broader market is down by almost one per cent with Sensex trading at 25,806 levels on intra-day basis.