Nila Infrastructures was up 1.42% to Rs 17.80 at 10:40 IST on BSE after the company said it has secured a work order for a slum development project in Ahmedabad.
The announcement was made after market hours yesterday, 21 June 2017.Meanwhile, the S&P SBE Sensex was up 130.82 points or 0.42% at 31,414.46. The S&P BSE Small-Cap index rose 86.46 points or 0.55% at 15,782.73.
On the BSE, 62,000 shares were traded on the counter so far as against the average daily volumes of 5.59 lakh shares in the past one quarter. The stock had hit a high of Rs 17.95 and a low of Rs 17.60 so far during the day. The stock had hit a record high of Rs 19.90 on 6 February 2017 and a 52-week low of Rs 10.25 on 24 June 2016.
The stock had underperformed the market over the past one month till 21 June 2017, advancing 0.57% compared with the Sensex's 2.69% rise. The stock had, however, outperformed the market over the past one quarter, advancing 8% as against the Sensex's 6.1% rise. The scrip had also outperformed the market over the past one year, gaining 50.13% as against the Sensex's 16.67% rise.
The small-cap company has equity capital of Rs 39.34 crore. Face value per share is Rs 1.
Nila Infrastructures received a work order from Ahmedabad Municipal Corporation (AMC) for the Integrated Slum In-Situ Development for public private partnership (PPP) project of about 360 residential units at Ahmedabad under Urban Development & Urban Housing Department, Government of Gujarat's Slum Rehabilitation and Redevelopment Policy-2013.
The redevelopment project's total cost outlay is about Rs 25.16 crore with a timeframe of 24 months. As remuneration, the company will get the balance vacant land of about 1,893 sq. mts worth Rs 7.58 crore and the transferable development rights (TDR) of Rs 17.58 crore.
Nila Infrastructures' net profit rose 32.9% to Rs 7.71 crore on 7% growth in net sales to Rs 74.09 crore in Q4 March 2017 over Q4 March 2016.
Nila Infrastructures is engaged in developing civil urban infrastructure projects on EPC, turnkey, PPP mode, as well as private white label construction and industrial infrastructure projects.
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