IRB shares jump 9% on bagging 2 highway projects
Shares of IRB Infrastructure Developers on Wednesday jumped nearly 9 per cent after the company said it has won highway projects in West Bengal and Himachal Pradesh, taking the total value of project wins in the current fiscal to Rs 5,004 crore.
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New Delhi: Shares of IRB Infrastructure Developers on Wednesday jumped nearly 9 per cent after the company said it has won highway projects in West Bengal and Himachal Pradesh, taking the total value of project wins in the current fiscal to Rs 5,004 crore.
The stock gained 8.65 per cent to Rs 112.30 on BSE. On NSE, it jumped 8.41 per cent to Rs 112.10. With the entry in West Bengal and Himachal Pradesh, the company's footprints have now been spread to ten states across India, it said on Tuesday.
"IRB Infra closes FY21 with project wins of Rs 5,004 crore, including two new projects... IRB has received letter of awards from the National Highways Authority of India (NHAI) for a BOT (build, operate, transfer) project in West Bengal and a Hybrid Annuity Model (HAM) project in Himachal Pradesh," the company said in a statement.
The company said it received letter of award (LOA) for BOT project in West Bengal involving six laning of Dankuni-Palsit stretch of 63.38 km of NH-19 with the project cost of Rs 2,421 crore. It said it has also emerged as a preferred bidder for HAM project in Himachal Pradesh involving four laning of 28.7 km stretch on Pathankot Mandi section of the NH-20 (new NH-154) with bid project cost of Rs 828 crore.
