Monday, October 3rd, 2022 11:39:25

MBL Infrastructures Hits New High

Updated: March 28, 2015 12:24 pm

Shares of MBL Infrastructures has rallied 8% to Rs 626 in otherwise subdued market on the National Stock Exchange (NSE). The stock hit a record high of Rs 649 in intra-day trade today, surging 55% in past one month after reporting an 83bps year-on-year (yoy) expansion in EBITDA margin at 11.3% for the third quarter ended December 31, 2014 (Q3FY15). The CNX Nifty gained 2.7% during the same period. MBL is expected to benefit from the National Highways Authority of India (NHAI) around 2,000km of EPC (engineering, procurement and construction) award activity in the next 12 months. With economic revival, infra award activity across verticals should catch-up. Having participated in projects worth Rs 10,000 crore, assuming around 25 per cent strike rate, MBL should report Rs 2,500 crore worth of project wins in the next 12 months, added report.

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