Hot Pursuit     24-Sep-10
PBA Infrastructure builds on road construction order
PBA Infrastructure rose 2.03% to Rs 90.50 at 14:29 IST on BSE, extending gains for the second day, after the company bagged a road construction order worth Rs 252.50 crore in Rajasthan under the National Highways Development Project.

The company announced the new order win during trading hours on Thursday, 23 September 2010, when the stock jumped 8.04% to Rs 88.70.

Meanwhile, the BSE Sensex was up 138.39 points, or 0.70% at 19,999.40.

On BSE, 7.44 lakh shares were traded in the counter. The stock hit a high of Rs 94.40 and a low of Rs 85.50 so far during the day.

At the ruling market price, the stock is up 10.23% in two trading sessions from a recent low of Rs 82.10 on 22 September 2010.

The project is to be executed on build, operate and transfer basis, the company said in a filing with BSE.

PBA Infrastructure's net profit declined 24.2% to Rs 3.26 crore on 20.3% decline in net sales to Rs 80.68 in Q1 June 2010 over Q1 June 2009.

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