MEP Infrastructure Developers hit a new low today at Rs.47.10 and remains down in the red.
The stock price has slipped on news that the company has been asked to extend exemption of toll till 30th Sept now.
This has been done owing to pending of completion of installation of Radio Frequency Identification Device (RFID) work.
The suspension of toll collection was to end earlier on the 23rd of Sept.
The company has said that the settlement of claims will be dealt as per the provisions of the contract agreement executed with the authority.
Suspension of toll is good news for us commuters but for companies like MEP, where toll is a major income earner, this comes as a blow.