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MEP Infrastructure Developers gains on securing LoA from NHAI for project in Uttar Pradesh

MEP Infrastructure Developers is currently trading at Rs. 39.65, up by 0.15 points or 0.38% from its previous closing of Rs. 39.50 on the BSE.

The scrip opened at Rs. 40.40 and has touched a high and low of Rs. 40.85 and Rs. 39.40 respectively. So far 4365 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 49.80 on 08-Jan-2019 and a 52 week low of Rs. 24.90 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 40.85 and Rs. 32.50 respectively. The current market cap of the company is Rs. 724.61 crore.

The promoters holding in the company stood at 65.96%, while Institutions and Non-Institutions held 13.74% and 20.30% respectively.

MEP Infrastructure Developers (MEP) has received the Letter of Award (LoA) from National Highways Authority of India (NHAI), New Delhi informing that MEP has been engaged as the Contractor for the Project of ‘Collection of user fee at Chhajarsi Fee Plaza at km. 39.730 for the section from km. 0.000 to km. 50,934 [Delhi Hapur section (part of Delhi- Merrut Expressway Section)] of NH-9 in the state of Uttar Pradesh’.

The contractual amount for the said Project is Rs 158.40 crore payable to NHAI on a weekly basis over a period of 1 year.

MEP Infrastructure Developers is engaged in tolling operations of the road infrastructure sector, with a pan-India presence. MEP Infra is in the business of pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties.

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