Shares of this small-cap company surged on getting approval from the Government of India; do you own it?

Shares of this small-cap company surged on getting approval from the Government of India; do you own it?

by 5paisa Research Team Last Updated: Dec 22, 2022 - 04:39 pm 6.3k Views
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There was a jump in stock by 3.14% after the company announced receiving a Letter of Acceptance (LoA) from the National Highways Authorities of India (NHAI).

The stock opened at Rs 55.95 and touched its day high at Rs 57.20 on BSE and it was trading at Rs 55.80 a piece after a surge.

Management of Dhruv Consultancy informed that it has received the Letter of Acceptance (LoA) for the execution of the Consultancy Services for Supervision Consultant of Operation & Maintenance of Four Lane NH Connectivity to ICTT Vallarpadam from Kalamassery to Vallarpadam in the State of Kerala, and the additional charge of Independent Engineer services for Operation and maintenance of Edapally - Vytilla - Aroor section (the Authority).

Fees for the said Project are decided to be Rs 3,71,56,248 inclusive of GST, whereas the Contract period will be of 36 months.

Dhruv Consultancy Services is a consulting firm for infrastructure that offers design, engineering, procurement, construction, and integrated project management services for ports, bridges, and tunnels as well as for buildings, architecture, and environmental engineering.

The company has served clients including the Ministry of Road Transport and Highways, the National Highways Authority of India, the City and Industrial Development Corporation of Maharashtra Ltd., the Jawaharlal Nehru Port Trust, the Maharashtra State Road Development Corporation, the Mumbai Metropolitan Region Development Authority, the Public Works Department, Maharashtra Tourism, and others.

This BSE group “B” stock touched its 52-week High at Rs 72.50 whereas the 52-week low stood at Rs 40.00. Presently, The promoters are holding a 67.66% stake in the company, while institutions and non-institutions are holding 0.07% and 32.27%, respectively.

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