The BSE Sensex was up 375.21 or 2.51% to 15307.98, on positive global cues after the US Federal Reserve left interest rates unchanged on Tuesday, 7 August 2007.
The stock had risen 0.78% on Monday 6 August 2007 to Rs 525.75 when the company announced the order win during trading hours. It had surged 5% at Rs 551.30 on Tuesday, 7 August 2007.
The scrip touched a low of Rs 560.10 so far during the day. On BSE, 2.35 lakh shares were traded in the scrip. The stock had hit a 52-week low of Rs 218 on 7 August 2006.
The stock had an average daily volume of 1.99 lakh shares on BSE in past one quarter.
The company's equity capital is Rs 23.10 crore, with 2.31 crore outstanding shares of a face value of Rs 10 each.
At current price of Rs 578.85 the scrip trades at a PE multiple of 10.08, based on Q1 June 2007 annualised EPS of Rs 57.37.
Shares of small-cap construction company had gained 12.05% in the one month to 7 August 2007 versus Sensex's 0.75% drop. It had added 53.69% in past three months against Sensex's 8.35% jump.
The order in consortium with Karam Chand Thapar & Bros (C.S.) from the National Highways Authority of India (NHAI) is on build, operate and transfer (BOT) basis.
On 3 August, the company announced that it was awarded a contract by NTPC for the main plant and offsite civil works package for Simhadri super thermal power projects. The contract, valued at about Rs 136.33 crore, will be executed over 43 months.
On 25 July 2007, the Adani group had awarded a Rs 28.27-crore contract for construction of civil works, fabrication and erection in Kutch district, Gujarat.
Earlier, Era Constructions India had decided to enter into a new business of ready-mix-concrete business.
Era Constructions' net profit soared 163.77% to Rs 33.13 crore on a 104.60% rise to Rs 247.87 crore in sales Q1 June 2007 over Q1 June 2006.
Era Constructions builds industrial complexes, residential buildings, multiplexes, supermalls, power projects and airports. The company is diversifying its revenue stream by entering into new segments such as irrigation and BOT projects.
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