Thursday, July 11, 2024
spot_img
HomeStocksMBL Infrastructure Hits Upper Circuit - Wins Arbitration Award of Rs 17.24...

MBL Infrastructure Hits Upper Circuit – Wins Arbitration Award of Rs 17.24 crore!

The catalyst behind this surge in the stock's value is a recent arbitration award in favor of the company against the Public Works Department, Government of Uttarakhand.

Mixed Start to the Week for Indian Markets

The start of the trading week in India hasn’t unfolded quite as expected, with both the Sensex and Nifty experiencing a downturn. The Sensex slipped by 0.36%, while the Nifty fell by 0.28%. Surprisingly, many sectors found themselves in negative territory, notably led by Nifty Media and Nifty Bank. However, amidst the prevailing red, some sectors such as Nifty Metal, Energy, and Realty showed positive movement.

Broader Markets Outperforming

Despite the frontline indices facing challenges, broader markets have shown resilience, with Nifty Midcap and small-cap indices advancing by 0.69% and 0.37%, respectively. Within this broader market context, one stock has stood out significantly – MBL Infrastructure Ltd.

MBL Infrastructure Ltd: Locked at Upper Circuit

MBL Infrastructure Ltd. saw itself locked at an upper circuit limit of 5% on Tuesday, garnering significant attention from investors. The catalyst behind this surge in the stock’s value is a recent arbitration award in favor of the company against the Public Works Department, Government of Uttarakhand. This was regarding a completed Road project of “Improvement / Strengthening of State Roads, Contract Package no. 5” in Uttarakhand. The awarded sum amounts to Rs 17.24 crores (including interest up to the date of Award) plus future interest of 12% p.a. from the date of Award to the actual date of payment, unless the same is paid within 90 days of the date of the Award, along with a declaratory award of GST.

Optimism Amidst Adversity

Mr. Surender Aggarwal, Executive Director of MBL Infrastructure Ltd., expressed optimism regarding the arbitration award, highlighting it as a result of the company’s continued efforts to realize contractual dues. He expressed hope for more such favorable outcomes in pending proceedings, which would further strengthen the company’s financial position.

MBL’s Diverse Operations

MBL Infrastructure Ltd. is engaged in diverse civil engineering infrastructure projects across various sectors, including Roads & Highways, Building, Housing & Urban Infrastructure, Railways/Metro, and Other Infrastructure PAN India.

Promising Ventures

Currently, MBL boasts two operational BOT projects: the Suratgarh-Bikaner National Highway Project in Rajasthan and the Waraseoni-Lalbarra Road in Madhya Pradesh.

Impressive Performance

Despite market fluctuations, MBL Infrastructure Ltd. has demonstrated remarkable performance, delivering multibagger returns over the past year, with its stock price surging by more than 200%.

Conclusion

In conclusion, MBL Infrastructure Ltd. emerges as a promising player in the infrastructure sector, backed by recent arbitration successes and a diverse portfolio of projects across India.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
RELATED ARTICLES
Continue to the category

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Most Popular