Simplex Infra rises almost 10%

Simplex Infra, intra day, rose 10% to Rs.568.75; not too far from its 52-week high of Rs.590. It has since then slipped from this intra day high and is now 2.5% up at Rs.534 levels.

The company has not confirmed it yet but news report abound that it has received an order from Mumbai Metropolitan Region Development Authority (MMRDA) for the Metro Line 2 project.

The company will design and construct the 12-km-long viaduct and 11 elevated stations on the D.N. NagarMankhurd corridor of Metro Line 2.

Simplex was the lowest bidder at Rs.1,080 crore.

Metro Line 2 will connect Dahisar and Mankhurd and has two corridors, 2A and 2B. Work on corridor 2A between Dahisar and D.N. Nagar is under way. Corridor 2B connects D.N. Nagar to Mankhurd.

Simplex Infrastructures will construct 11 of the 22 stations on the 2B corridor: ESIC Nagar, Prem Nagar, Indira Nagar, Old Airport, Khira Nagar, Saraswat Nagar, National College, Bandra (W), MMRDA Office, Income Tax Office and BKC.