Stock in focus: IRB Infra receives letter of award from NHAI
DSIJ Intelligence / 29 Dec 2016
IRB Infrastructure Developers is likely to gain in the early trade. Company has informed the bourses that it has received letter of award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I project.
IRB Infrastructure Developers is likely to gain in the early trade. Company has informed the bourses that it has received letter of award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I project.
The estimated cost of the project is Rs 1530 crore. The concession period for the project is 20 years and the construction period is 910 days. IRB infra has offered a premium of Rs 186.3 crore to NHAI in terms of concession period.
The stock on December 28 closed at Rs 189.65; and on December 29 has opened 2.74 per cent higher. In the last six months the stock of IRB Infra has fallen by nine per cent. Fifty-two-week high/low stands at Rs 269.30/177.50.Meanwhile markets are expected to trade flat to negative ahead of F&O expiry.
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