Arihant Superstructures on Monday said its subsidiary Arihant Abode has granted construction work contracts worth ₹825 crore to Capacit’e Infraprojects for its project Arihant Aspire. Arihant Abode has signed the letter of intent for construction works at the proposed airport at Panvel, near Navi Mumbai, with Capacit’e Infraprojects. In a separate filing, Capacit’e Infraprojects said the order is for construction of 8 residential buildings of 42 floors each. Shares of Arihant Superstructures gained 1.93 per cent at ₹176.95 on the NSE while those of the recently-listed Capacit’e Infraprojects jumped 3.97 per cent at ₹382.70.

Sadbhav Engineering has informed the exchanges that it has been declared the successful bidder (L1) in respect of the bids invited by Western Coal Fields, CIL, Maharashtra, for a contract value of ₹674.20 crore. The first order worth ₹113.40 crore is work of overburden removal of coal evacuation and transportation of coal at Bhanegaon OCM of Nagpur, and the second worth ₹560.80 crore is for Kolarpimpri extension OCM of Wani North area. While the contract period for the first order is 60 months, the second one has to be executed in 54 months. The stock of Sadbhav Enginering closed at ₹310.60, a gain of 0.8 per cent, on the NSE.

The management of Moser Baer has declared a lock-out at the factory in Greater Noida till circumstances turn conducive for commencement of operations. In a notice to the exchanges it said that recently workers had indulged in ‘illegal and unjustified’ strike at the plant with ‘unreasonable demands’. The subsidiary companies and other units of the company are not affected by the development. “The situation is being monitored and all appropriate steps in resolving the matter are being taken as warranted by the circumstances,” it added. The stock of Moser Baer tumbled 4.08 per cent at ₹4.70 on the NSE.

Related Topics
comment COMMENT NOW