Stock of MEP Infra trades in green after receiving LOA

MEP Infrastructure Developers has received the Letter of Award (LOA) from the National Highways Authority of India (NHAI), New Delhi.

The company has been engaged as the contractor for a project intended for the collection of user fees at the Chhajarsi Fee Plaza at the Delhi Hapur section, which is a part of the Delhi- Meerut Expressway, a section of the NH-9 in Uttar Pradesh. The contract agreement for the same is for one year. The operations are supposed to commence within 2 days after compliance of statutory formalities, such as the submission of performance security and signing of the contract as per the LOA. The contractual amount for the project, which is Rs. 158.40 crores in total, is payable to NHAI every week over one year.
 
MEP Infrastructure Developers Ltd. is a toll management company that operates a network of roads, highways, bridges and toll plazas. The company's services include toll management, which is providing infrastructure management and toll collection, including Mumbai entry points and build-operate-transfer (BOT) project at Baramati with Road Infrastructure Development Company of Rajasthan (RIDCOR) in Rajasthan, and with National Highways Authority of India (NHAI) across the country.
 
On Monday, the stock of the company was trading at Rs. 40.7, up by 3.03 per cent or Rs. 1.2 per share in the early morning trading session. The 52-week high is Rs. 49.80 and the 52-week low is Rs. 24.90 on BSE.