Sadbhav Engineering declared lowest bidder for projects worth Rs 900 crores

In the wake of the company announcing that it was declared as the lowest bidder for a Rs 900-crore project in Gujarat, the shares of Sadbhav Engineering soared by over 3% intraday during Thursday’s trading session.
 
According to a statement issued by the company, it has been declared a successful bidder (L1) in respect of the bid invited by Road & Building Department, Government of Gujarat for two projects in the EPC mode for an aggregating value of Rs 900 crore.
 
The first project involves upgradation to six lanes with paved shoulders of the Sayla-Bamanbore section of NH 8A (new NH 47) in the EPC mode in Gujarat. The bid price for the first project was Rs 396 crore. The second project involves upgradation to six lanes with paved shoulders of the Bagodara-Limbdi section of NH 8A (new NH 47) in the EPC mode in Gujarat. The bid price for this project was Rs 504 crore.
 
The construction period for both the said projects was two years. Both the said projects are part of the 215 km long stretch between Ahmedabad and Rajkot.
 
Meanwhile, the stock was trading up by 1.79% at Rs 293.55 per share on the BSE at 1102 hours. It opened at Rs 300 per share and touched its intraday high and low at Rs 301.65 per share and Rs 290.40 per share, respectively. The stock attracted a total traded volume of 95,198 shares and traded value of Rs 282.80 lakhs on the NSE at 1103 hours.