C & C Constructions Shoot Up On New Order

C & C constructionsC & C constructions trading up 2.04% to Rs 209.60 after its combined deal secured a Rs 400-crore road pact in north India from the National Highways Authority of India.

The scrip touched a high of Rs 214 and a low of Rs 200.15 during the day. On BSE, 1.75 lakh shares of the scrip were traded. In the last one quarter, the stock had an average daily volume of 81,195 shares on BSE.

At the existing price of Rs 209.60, the scrip deals at a PE multiple of 11.63, based on its Q3 March 2007 annualized earning pre share of Rs 18.01.

The scrip had benefited 11% in the one month to 28 June 2007 against the Sensex's 0.65% growth. It appended 20.82% in the past three months versus Sensex's 10.96% advancement.

The stock has had its 52-week high of Rs 350 on 26 February 2007 and a 52-week low of Rs 158 on 8 March 2007.

The company's joint venture with B Seenaiah & Co. (projects) has secured the agreement. The project calls for growth, design, building, preservation and action of a 44-kilometre stretch of the highway from Kurali Kiratpur on national highway-21 connecting Chandigarh to the tourist and apple belt of Kullu Valley and beyond and other districts of Himachal Pradesh. The project will be on a build- operate-and-transfer basis.

The concession phase is 20 years comprising manufacturing period of two- and-a-half years. The company reported net profit of Rs 8.22 crore on sales of Rs 105.30 crore in Q3 March 2007.

C & C Constructions is an infrastructure project development company offering engineering, procurement and building services for infrastructure projects in India and Afghanistan.




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