Sadbhav Infra climbs 8% on talks of consolidation with engineering firm

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Sadbhav Infrastructure Projects shares rallied 7.7 percent and Sadbhav Engineering gained 5.4 percent intraday on August 6 ahead of consideration of consolidation amongst both firms.

The meeting of the board of directors is scheduled on August 10 to consider and approve exploring consolidation option with Sadbhav Engineering Limited (SEL)," Sadbhav Infrastructure said in its BSE filing.

Any matters incidental thereto including the appointment of valuers will also be considered in a meeting, it added.

Sadbhav Infrastructure Project (SIPL), a subsidiary of Sadbhav Engineering, was incorporated as an asset holding company for road and other infrastructure BOT projects.

Sadbhav Engineering was quoting at Rs 124.50, up Rs 2.75, or 2.26 percent and Sadbhav Infrastructure Projects was trading at Rs 56.95, up Rs 2.40, or 4.40 percent on the BSE at 1424 hours IST.