Innovision Shares Jump 18% After Fresh NHAI Toll Collection Orders in Madhya Pradesh

Innovision shares had a strong run on Wednesday, September 9, jumping 18% after the company added two more toll collection contracts from the National Highways Authority of India (NHAI) to its order book. 

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The stock opened at ₹271.80 on the BSE and climbed to an intraday high of ₹296. It touched a low of ₹265 during the session. 

At the centre of Wednesday’s buying was a fresh Letter of Award worth ₹24.52 crore for toll collection at the Pachwara Fee Plaza in Madhya Pradesh. The plaza is part of the four-laning of the Jhansi-Khajuraho section of NH-39. 

The contract runs for one year and goes beyond collecting user fees. Innovision will also be responsible for maintaining the toilet blocks adjoining the fee plaza and replenishing consumables during the contract period. 

Another ₹219 Crore Contract for Indore-Dewas Stretch 

The Pachwara order comes alongside a much larger assignment in the same state. 

Innovision has also been appointed to collect user fees at the IDTL A and IDTL B fee plazas on the six-laning of the Indore-Dewas section of NH-3. 

Awarded through competitive bidding via an e-tender, the contract carries a commercial consideration of ₹219.07 crore and will remain in force for one year. 

Both contracts have been awarded by domestic entities. Innovision also clarified that its promoters, promoter group and group companies have no interest in the entities that awarded the orders. 

NHAI Orders Have Been Coming in Regularly 

The Madhya Pradesh wins are the latest in a string of toll collection assignments secured by Innovision in recent weeks. 

Earlier in September, the company received a ₹48.25 crore NHAI order for the Mangapatnam Fee Plaza on NH-67 in Andhra Pradesh. The project covers the Tadipatri-Jammalamadugu route via Muddanur and also includes maintenance of nearby toilet blocks and replenishment of consumables. 

A month earlier, Innovision secured a ₹30.36 crore contract for the Manambadi Fee Plaza on the Sethiyathope-Cholapauram section of NH-36 in Tamil Nadu. Maintenance of adjoining toilet facilities and consumable supplies are part of that assignment as well. 

The recent orders have taken Innovision’s toll collection operations across multiple states, with Madhya Pradesh now adding two more projects to the company’s portfolio. 

How Has Innovision Stock Performed? 

Wednesday’s 18% jump gave the stock a sharp lift after a mixed performance over the past few months. 

Innovision has gained 8.48% over the past week and 10.42% in two weeks. Stretch the period further, however, and the picture changes: the stock is down 1.41% over the past month and 4.70% over three months. 

For Wednesday’s session, the immediate trigger was clear two new Madhya Pradesh assignments, including the ₹219.07 crore Indore-Dewas contract and the ₹24.52 crore Pachwara Fee Plaza order.