Sadbhav Infra’s arm wins arbitration against NHAI, Stock gains 3%
Shares of Sadbhav Infrastructure were trading 3% higher in the morning session on Tuesday as its subsidiary Nagpur Seoni Express Way Limited (NSEL) won an arbitration award against NHAI.
From the date of award till the final payment, NSEL shall receive interest at the rate of 12% per annum. Additionally, NSEL will get 19 semi-annual annuity amounts of Rs21.79cr instead of Rs19.19cr presently paid by NHAI making the total award amount of Rs110.50cr, the company said in a press release to the exchanges on Monday after market hours.
Sadbhav Infrastructure Projects share is currently trading at Rs98.85, up by Rs2.55 or 2.65% from its previous closing of Rs96.30 on the BSE.
The scrip has opened at Rs99.75. It has touched a high and low of Rs103 and Rs96.50, respectively. So far 28,822 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs3,391.93cr.
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