Meanwhile, the BSE Sensex was up 225.48 points, or 0.79%, to 28,732.90.

Surge in price was accompanied with high volumes on the counter. On BSE, so far 22.06 lakh shares were traded in the counter, compared with an average volume of 22,050 shares in the past one quarter. The stock hit a high of Rs 117, so far during the day, which is a record high for the stock. The stock hit a low of Rs 105.70 so far during the day. The stock hit a record low of Rs 66.30 on 15 February 2016. The stock had outperformed the market over the past one month till 21 September 2016, gaining 5.39% compared with 1.53% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 2.21% as against Sensex's 6.32% rise.

The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.

Sadbhav Infrastructure Project said that board of directors of the company on 21 September 2016 had approved allotment of 2,000 senior, taxable, secured, rated, listed, redeemable, non-convertible debentures totally aggregating upto Rs 200 crore having face value of Rs 10 lakh each under tranche I comprising of the series I debentures, series II debentures, series III debentures and series IV debentures, of Rs 50 crore each.

Sadbhav Infrastructure Project reported consolidated net loss of Rs 89.46 crore in Q1 June 2016 compared with net loss of Rs 88.34 crore in Q1 June 2015. Net sales fell 33.3% to Rs 361.70 crore in Q1 June 2016 over Q1 June 2015.

Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.