Shares in Sadbhav Engineering surged about 11 percent in morning trade on BSE on December 22 after the company said it was declared the lowest bidder by Gujarat Metro Rail Corporation for a project.

The project is for the construction of 11.6 km elevated viaduct from Kadarsha Ni Nal to Dream City dead-end including ramp for depot entry near Dream City and 10 Stations for Surat Metro Rail Project," the company said. Following the announcement, the stock surged buy cooled off later and traded 4  percent higher at Rs 60 on the Bombay Stock Exchange  during mid-noon session, Tuesday

Sadbhav Engineering is engaged in the business of development of infrastructure facilities in areas of canals, irrigation projects, roads, bridges, etc.

Amarjeet Maurya - AVP - Mid Caps, Angel Broking pointed out that the company has been declared as the lowest bidder by Gujarat Metro Rail Corporation (GMRC) Limited for the Metro Rail projects which cost is around about Rs 780 crore and the award is expected to receive soon from Gujarat Metro Rail Corporation.

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