Simplex Projects touches roof on resuming work at Libya

Simplex Projects is locked at upper circuit limit at Rs. 41.10, up by 1.95 points or 4.98% from its previous closing of Rs. 39.15 on the BSE. The scrip opened at Rs. 41.00 and has touched a high and low of Rs. 41.10 and Rs. 41.00 respectively. So far 7,756 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 41.10 on 08-May-2014 and a 52 week low of Rs. 7.21 on 10-Oct-2013. Last one week high and low of the scrip stood at Rs. 41.10 and Rs. 32.50 respectively. The current market cap of the company is Rs. 51.00 crore. The promoters holding in the company stood at 56.21% while Institutions and Non-Institutions held 1.68% and 42.11% respectively. Simplex Projects has received an approval from the Government of Libya for resumption of its project for construction of 2000 housing units, service buildings and related infrastructure at Ghira, Shabiyat of Ashati, Libya which was stalled due to political unrest in Libya since February 2011. In view of the revised agreement the project is to be completed within a period of 900 days from the date of initial payment of outstanding dues. Simplex Projects (SPL) controls project sites all over India. In a decade of its working SPL has emerged as a renowned civil engineering and construction company. The company has procured a fleet of construction equipment over this period.