Sadbhav Engineering rose 3.92% to Rs 195.05 at 12:46 IST on BSE after the company said its joint venture Sadbhav-Vishnushiva received an order from South West Mining in Rajasthan.
The company made the announcement during trading hours today, 15 July 2014.
Meanwhile, the BSE Sensex was up 47.83 points, or 0.19%, to 25,054.81.
On BSE, so far 28,000 shares were traded in the counter, compared with an average volume of 57,741 shares in the past one quarter.
The stock hit a high of Rs 199 and a low of Rs 189.10 so far during the day. The stock hit a 52-week high of Rs 213 on 1 July 2014. The stock hit a 52-week low of Rs 52 on 16 September 2013.
The stock had underperformed the market over the past one month till 14 July 2014, falling 3.37% compared with 0.88% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 54.61% as against Sensex's 10.51% rise.
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The small-cap company has an equity capital of Rs 15.18 crore. Face value per share is Rs 1.
The joint venture led by the company has been awarded the project worth Rs 550 crore by South West Mining, Barmer, Rajasthan, Sadbhav Engineering said in a statement.
The contract period is seven years with effect from 12 September 2014.
The project work includes hiring heavy earth moving equipments, with operators, maintenance staff and facilities for excavation work at Pit B of Jalipa Lignite Mines, the company said.
Sadbhav Engineering said it will lead the joint venture with 75% participation share.
Earlier this month, Sadbhav-Vishnushiva had won a project worth Rs 150 crore by South West Mining.
Sadbhav Engineering's net profit jumped 211.6% to Rs 36.02 crore on 13.8% growth in net sales to Rs 798.69 crore in Q4 March 2014 over Q4 March 2013.
Sadbhav Engineering is a construction firm with focus on road, irrigation and mining projects.
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