Meanwhile, the BSE Sensex was up 15.52 points, or 0.06%, to 26,893.76.

On the BSE, 4,370 shares were traded in the counter so far, compared with an average volume of 79,874 shares in the past one quarter. The was locked at a high of Rs 40.15 so far during the day. The stock had hit a 52-week high of Rs 224 on 6 January 2016. The stock had hit a 52-week low of Rs 34.65 yesterday, 5 January 2017.

The stock had underperformed the market over the past one month till 5 January 2017, dropping 49.8% compared with the Sensex's 2.01% rise. The scrip had also underperformed the market in past one quarter, slumping 66.54% as against the Sensex's 4.76% fall.

The small-cap company has an equity capital of Rs 41.45 crore. Face value per share is Rs 10.

Shares of MBL Infrastructures had witnessed unabated selling post announcement of reverse turnaround in Q2 results on 14 December 2016. MBL Infrastructures reported consolidated net loss of Rs 121.84 crore in Q2 September 2016 compared with net profit of Rs 17.47 crore in Q2 September 2015. Consolidated net sales fell 7.9% to Rs 378.99 crore in Q2 September 2016 over in Q2 September 2015.

Shares of the company had dropped 55.62% in sixteen sessions to close at Rs 36.45 on 4 January 2017 from its close of Rs 82.15 on 13 December 2016.

Selling pressure was also aggravated after MBL Infrastructures on 14 December 2016 announced that Madhya Pradesh Road Development Corporation Limited (MPRDC) illegally terminated two projects being executed by the 100% subsidiaries of the company.

MPRDC illegally terminated build, operate and transfer (BOT) project of development and operation of Seoni-Katangi-Maharashtra border section of State Highway no. 54 by two laning on design, build, finance, operate and transfer (DBFOT) basis being executed by the 100% subsidiary of the company MBL Highway Development Company Limited.

The another BOT project was for widening and upgrading of Garra-Waraseoni-Maharashtra border section of Major District Road (MDR) in Madhya Pradesh through public private partnership (PPP) on DBFOT basis being executed by the 100% subsidiary of the company MBL (MP) Road Nirman Company Limited.

The company had said at that time that arbitration has been invoked by both the subsidiary companies as per the provisions of the concession agreement.

MBL Infrastructures is engaged in execution of civil engineering projects with specialisation in roads & highways. The company has a rich experience in road building and maintenance. The company has an integrated business model for engineering, procurement and construction (EPC) and BOT (build–operate–transfer) projects.