Stock below Rs 15: This micro-cap company receives an order worth Rs 22.06 crore!

In the recent trading session, the shares of the company hit back-to-back upper circuits.   

MEP Infrastructure Developers (BSE Script Code: 539126; NSE Script Code: MEP) informed that the company has received a Letter of Award (LOA) from M. P. Road Development Corporation Ltd. (M. P. State Highway Authority) (“the Authority”) informing that RVPL has been engaged as the User Fee Collection agency for Agar-Jaora Road in the State of Madhya Pradesh.  

The contractual value of the project is Rs 14.76 crore and the annual remittance to the authority is Rs 7.38 crore. The project operations will commence within 1 month after the signing of the contract agreement with the authority as per the terms of the Bid Document and will be completed within 2 years.  
MEP Infrastructure Developers Ltd is engaged in the business of construction, operation and maintenance of road infrastructure in India, with a focus on serving the Central and State Road Authorities.   

Today, the shares of MEP Infrastructure Developers zoomed 10 per cent upper circuit to the day’s high of Rs 15.03 per share being one of the Top Gainers on BSE. At 03:30 pm, shares of the company ended the day in green, up 9.29 per cent to Rs 14.94 per share. In the recent trading session, the shares of the company hit back-to-back upper circuits.   

Investors should keep an eye on this micro-cap stock under the watchlist.