IRB Infrastructure surges on emerging as preferred bidder for six-lane highway project
Today, the stock opened at Rs 30.45 and has touched a high and low of Rs 31.60 and Rs 29.70 respectively.
At 11 am, the shares of IRB Infrastructure Developers were trading at Rs 30.35, up by 0.55 points or 1.85% from its previous closing of Rs 29.79 on the BSE.
Bagging six-lane highway project in Gujarat
IRB Infrastructure Developers (IRB) has emerged as a Preferred Bidder for the project of Upgradation to Six Lane with paved Shoulder of NH-27 from Samakhiyali to Santalpur section from km 339+200 to Km. 430+100 in the State of Gujarat on build-operate-transfer (BOT) (Toll) Mode. The project, with a Concession Period of 20 years from the Appointed Date, is 6 laning of the 90.90 Km stretch between Samakhiyali to Santalpur. The total project cost is Rs 2,132 crore.
Upon award of this project, the company’s order book will stand revised to around Rs 20,892 crore, excluding GST, of which, the construction order book will be at Rs 9,714 crore, providing strong visibility for the next 2.5 years around.
Stock price movement
The BSE group 'A' stock of face value of Rs 1 has touched a 52-week high and low of Rs 32.93 and Rs 17.91, respectively. Last one week high and low of the scrip stood at Rs 31.60 and Rs 27.48 respectively. The current market cap of the company is Rs 18,328.37 crore.
The promoters holding in the company stood at 34.20%, while Institutions and Non-Institutions held 55.31% and 10.49% respectively.
About the company
IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also in other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.
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