 "IRB Infra gains on bagging Rs 2,650 crore road project")
Shares of IRB Infrastructure were higher by 2% at Rs 248 on the NSE in early morning trades after the company bagged Rs 2,650 crore order from the National Highways Authority of India (NHAI).
“The company has emerged as a preferred bidder for the project of six laning of Agra - Etawah bypass section from NH-2 in the state of Uttar Pradesh under NHDP Phase- V on BOT (Toll) mode,” IRB Infrastructure said in a statement.
The estimated project cost of the company is approximately Rs 2,650 crore with construction period of 910 days. The concession period for the same is 24 years, the company added.
IRB Infrastructure said that its order book will stand to increase to approximately Rs 10,900 crore, to be executed in the next four years. This will boost the company’s construction order-book visibility for next 3-4 years.
The stock opened at Rs 247 and touched a high of Rs 250 on the NSE so far. A combined around 100,000 shares changed hands on the counter on the NSE and BSE till 0915 hours.
“The company has emerged as a preferred bidder for the project of six laning of Agra - Etawah bypass section from NH-2 in the state of Uttar Pradesh under NHDP Phase- V on BOT (Toll) mode,” IRB Infrastructure said in a statement.
The estimated project cost of the company is approximately Rs 2,650 crore with construction period of 910 days. The concession period for the same is 24 years, the company added.
IRB Infrastructure said that its order book will stand to increase to approximately Rs 10,900 crore, to be executed in the next four years. This will boost the company’s construction order-book visibility for next 3-4 years.
The stock opened at Rs 247 and touched a high of Rs 250 on the NSE so far. A combined around 100,000 shares changed hands on the counter on the NSE and BSE till 0915 hours.