The announcement was made during market hours today, 10 December 2012.
Meanwhile, the BSE Sensex was down 23.90 points or 0.12% to 19,400.20
On BSE, 21,444 shares were traded in the counter as against average daily volume of 72,747 shares in the past one quarter.
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The stock hit a high of Rs 137.90 and a low of Rs 130 so far during the day. The stock had hit a 52-week high of Rs 161 on 30 March 2012. The stock had hit a 52-week low of Rs 94 on 30 December 2011.
The stock had underperformed the market over the past one month till 7 December 2012, falling 10.52% compared with the Sensex's 2.76% rise. The scrip had also underperformed the market in past one quarter, sliding 1.37% as against Sensex's 9.84% rise.
The small-cap company has equity capital of Rs 15.09 crore. Face value per share is Re 1.
Sadbhav Engineering said its joint venture company has been declared the successful bidder in respect of the bid invited by Karnataka State Highways Improvement Project (KSHIP) (Public Works, Ports & Inland Water Transport Department), Government of Karnataka. Sadbhav Engineering said its equal stakes joint venture company 'Sadbhav -GKC' has been declared the successful bidder for a project involving design, build, finance, operate, maintain and transfer (DBFOMT) the existing state highway (SH 33 and SH 3) from Malavalli to Pavagad (approximate length of 193.344 kms) on DBFOMT (annuity) basis in Karnataka. The estimated cost of the project is Rs 737.20 crore. The project has concession period of ten years including construction period of thirty months from the appointed date.
Seperately, Sadbhav Engineering said its joint venture company 'SADBHAV-VISHNUSIVA Joint Venture' has been declared the successful bidder in respect of the bid invited by Bharat Cocking Coal (A subsidiary of Coal India), Dhanbad. The project with contract value Rs 210.49 crore involves "Hiring of HEMM for removal of OB, extraction and transportation of coal from Xl, IX/X, VIIIC, VIIIB, VIIIA & V/VI/VII seams at Patch 'F-1' of Maheshpur Colliery of Govindpur Area". The total quantity for the removal of over burden (OB) is 248.93 LCM and extraction of coal is 72.17 LMT. Sadbhav Engineering will lead the joint venture with 15% participation share.
Sadbhav Engineering's net profit dropped 64.8% to Rs 6.39 crore on 22.8% decline in net sales to Rs 334.54 crore in Q2 September 2012 over Q2 September 2011.
Sadbhav Engineering is a construction firm with focus on road, irrigation and mining projects.
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