IRB’s stocks gains on new order
Our Mumbai News Bureau
The stock prices of IRB Infrastructure Developers have gone up over 5 per cent to Rs 122.30 on the announcement of its newly secured contract. The company has bagged a Rs 2,300 crore order from the National Highways Development Authority (NHAI), the company said in a statement.
This will be the second biggest order bagged by the company in recent months. On April 29, IRB won a contract worth
Rs 3,200 crore for four-laning of Yedeshi-Aurangabad section of NH-211 in Maharashtra.
The company emerged as a selected bidder for the project of four-laning of Kaithal Rajasthan Border Section of NH-152/65 from km 33.250 to km 241.580 (Design Length 166 km) in the State of Haryana to be executed as build, operate and transfer BOT (Toll) on DBFOT pattern under NHDP Phase -IV.
The total project cost was Rs 2,300 crore and it will be constructed in three years. Besides, IRB has sought Rs 234 crore viability gap funding from NHAI.