Bharat Road Network surges 20% after arm wins arbitration against NHAI

Bharat Road Network shares soared 20 per cent to hit the upper circuit of Rs 115.20 on the BSE after the company said its arm has won an arbitration award of Rs 322.77 crore against the National Highways Authority of India (NHAI) for a project in Odisha. 

The company said it had referred the matter to arbitration after NHAI failed to hand over the land required for the project.

"Orissa Steel Expressway Private Limited (OSEPL), one of the subsidiaries of the company, has won an arbitration award of Rs 322.77 crore in the matter of arbitration proceedings between OSEPL and