India's Nesco rises after winning highway infra tender

NESCO

07/01/2025 05:30

** Shares of Nesco  NSEN.NS  rise 4.4% to 1,036.90 rupees
    ** National Highways Logistics Management allots tender to
engineering co to develop and operate 3 sites for wayside
amenities in phase-II section of Bengaluru-Chennai Expressway
    ** Total development cost estimated at 750 mln rupees ($8.8
mln) per site; co sees annualised revenue of 3.5 bln rupees from
the sites from fourth year of operations
    ** Sites to be developed on lease for 30 years and annual
lease rent for three sites is 166 mln rupees
    ** Trading vols nearly 2x the 30-day average 
    ** NSEN gained 9.2% in 2024 vs 44.7% in 2023

($1 = 85.6725 Indian rupees)

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))