Sunday , September 26 2021

Bharat Road Network shines on signing agreement with Cube Highways

Bharat Road Network is currently trading at Rs. 30.05, up by 0.75 points or 2.56% from its previous closing of Rs. 29.30 on the BSE.

The scrip opened at Rs. 29.90 and has touched a high and low of Rs. 31.10 and Rs. 29.75 respectively. So far 2068 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 53.90 on 20-Apr-2020 and a 52 week low of Rs. 27.90 on 26-Mar-2021.

Last one week high and low of the scrip stood at Rs. 31.10 and Rs. 28.00 respectively. The current market cap of the company is Rs. 245.97 crore.

The promoters holding in the company stood at 53.76%, while Institutions and Non-Institutions held 0.79% and 45.45% respectively.

Bharat Road Network along with its partners, has signed an agreement with Cube Highways, a portfolio company of I Squared Capital, for the complete transfer of ownership in an operating toll road project in the state of Uttar Pradesh, India. The company currently holds 39% stake in this project.

The Share Purchase Agreement provides for the sale of entire stake in Ghaziabad Aligarh Expressway Private Limited, the special purpose vehicle (SPV) engaged in the development, operation and maintenance of a 126-kilometre toll road project from Ghaziabad to Aligarh on National Highway 34 (NH34). The project has been granted a 24-year concession in 2011 for strengthening and widening the two-lane highway. Toll collection on this road started in June 2015.

Bharat Road Network is an infrastructure company. It is engaged in the development and implementation of important roads and highways. The firm caters to the requirements of build-operate-transfer sector.

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