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IRB Infrastructure surges on receiving LoA for Yedeshi - Aurangabad section

29 Apr 2014

IRB Infrastructure Developers is currently trading at Rs. 121.20, up by 4.35 points or 3.72% from its previous closing of Rs. 116.85 on the BSE.

The scrip opened at Rs. 119.05 and has touched a high and low of Rs. 121.95 and Rs. 119.05 respectively. So far 1,13,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 136.00 on 20-May-2013 and a 52 week low of Rs. 51.90 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs. 123.30 and Rs. 114.90 respectively. The current market cap of the company is Rs. 4,029.00 crore.

The promoters holding in the company stood at 61.71% while Institutions and Non-Institutions held 28.63% and 9.66% respectively.

IRB Infrastructure Developers has emerged as a preferred bidder and received Letter of Award (LoA) from NHAI for the project of four laning of Yedeshi - Aurangabad section of NH-211 from km 100.000 to km 290.200 (Design Length 190 km) in the state of Maharashtra to be executed as BOT (Toll) on DBFOT Pattern under NHDP Phase - IV.

The project is on DBFOT pattern and the estimated cost is approximately Rs 3,200 crore. The concession period is 26 years while construction period is 910 days. The company has sought Rs 558 crore as viability gap funding from NHAI.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

Related IRB Infrastructure Developers Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323