Stock in news: IRB Infrastructure and Developers
DSIJ Intelligence / 19 Dec 2016
IRB Infrastructure will certainly be the stock of trade on December 19.IRB Goa Tollway Private Limited - Wholly owned subsidiary of the Company ("IRBGT") has received from NHAI Rs 241.89 crore against the Bank Guarantee submitted by IRBGT as 75 per cent of the Arbitral Award amount pronounced by the Arbitral Tribunal.
IRB Infrastructure will certainly be the stock of trade on December 19. The company has informed bourses that pursuant to the measures approved by the Cabinet Committee on Economic Affairs (CCEA) for revival of the construction sector directing government agencies to pay 75 per cent of the arbitral award amount against Bank Guarantee where government agencies have challenged the arbitral award, IRB Goa Tollway Private Limited - Wholly owned subsidiary of the Company ("IRBGT") has received from NHAI Rs 241.89 crore against the Bank Guarantee submitted by IRBGT as 75 per cent of the Arbitral Award amount pronounced by the Arbitral Tribunal.
The shares of the company in the last six months have fallen by 9 per cent. The shares are expected to spice up. Fifty-two-week high/low of the scrip stands at Rs 269.30/177.50. On the other hand the Indian markets are expected to open flat as on 9.03 am SGX Nifty is trading down with 30 points.
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