/images/ppid_59c68470-image-175791759722179194.webp)
/images/ppid_59c68470-image-175818257455811585.webp)
What is the story about?
Shares of Ceigall India Ltd gained more than 3% on Monday, September 15, after the company emerged as the lowest (L1) bidder for a road construction project, worth ₹509.2 crore in Mohali. The company has secured the project from the Greater Mohali Area Development Authority (GMADA) for the construction of roads in Aerotropolis, Sahibzada Ajit Singh Nagar district in Punjab, according to a stock exchange filing.
Following the contract win, shares of Ceigall India touched an intraday high of ₹278.4 apiece on the BSE, rising as much as 3.4% from the previous close of ₹269.25. The stock is trading nearly 21.6% higher from its 52-week low, however, it still trails its last 52-week high of ₹399.6.
According to the company’s stock exchange filing, the order involves the construction of internal road networks within Pockets B, C, and D of Aerotropolis City, covering civil works, allied public health services, and electrical installations to support the urban infrastructure.
The project cost is estimated at ₹467.93 crore (including GST), while the awarded value stands at ₹509.20 crore (including GST).
The timeline for execution includes a 24-month construction phase, followed by a 36-month defects liability period post-completion, the company informed the bourses.
As part of the conditions, Ceigall India will provide a performance bank guarantee of 5%.
The Board of Directors of Ceigall India will meet on Thursday, September 18, to review and discuss matters relating to the proposed Scheme of Arrangement of Ceigall Infra Projects, a wholly owned subsidiary of the company, with C & C Construction Ltd, the company informed the stock exchanges in a separate filing last week.
In compliance with SEBI regulations on insider trading, the trading window for dealing in the company’s securities has been closed for all designated persons and their immediate relatives from the close of business hours on September 12, and will remain shut until 48 hours after the conclusion of the board meeting.
Shares of Ceigall India were trading 1.99% higher at ₹274.6 apiece on the BSE around 10 am.
Catch live market updates with CNBC-TV18.com's blog
Following the contract win, shares of Ceigall India touched an intraday high of ₹278.4 apiece on the BSE, rising as much as 3.4% from the previous close of ₹269.25. The stock is trading nearly 21.6% higher from its 52-week low, however, it still trails its last 52-week high of ₹399.6.
According to the company’s stock exchange filing, the order involves the construction of internal road networks within Pockets B, C, and D of Aerotropolis City, covering civil works, allied public health services, and electrical installations to support the urban infrastructure.
The project cost is estimated at ₹467.93 crore (including GST), while the awarded value stands at ₹509.20 crore (including GST).
The timeline for execution includes a 24-month construction phase, followed by a 36-month defects liability period post-completion, the company informed the bourses.
As part of the conditions, Ceigall India will provide a performance bank guarantee of 5%.
The Board of Directors of Ceigall India will meet on Thursday, September 18, to review and discuss matters relating to the proposed Scheme of Arrangement of Ceigall Infra Projects, a wholly owned subsidiary of the company, with C & C Construction Ltd, the company informed the stock exchanges in a separate filing last week.
In compliance with SEBI regulations on insider trading, the trading window for dealing in the company’s securities has been closed for all designated persons and their immediate relatives from the close of business hours on September 12, and will remain shut until 48 hours after the conclusion of the board meeting.
Shares of Ceigall India were trading 1.99% higher at ₹274.6 apiece on the BSE around 10 am.
Catch live market updates with CNBC-TV18.com's blog
Do you find this article useful?
/images/ppid_59c68470-image-17581175441057482.webp)
/images/ppid_59c68470-image-175825006012222654.webp)
/images/ppid_59c68470-image-175809507751999995.webp)
/images/ppid_59c68470-image-17581050799201001.webp)
/images/ppid_59c68470-image-175825516967930061.webp)
/images/ppid_59c68470-image-175820753856790011.webp)
