IVRCL Assets & Holdings gains strength on clinching two deals worth over Rs 3,000 crore

IVRCL Assets & Holdings is currently trading at Rs. 53.10, up by 1.85 points or 3.61% from its previous closing of Rs. 51.25 on the BSE.

The scrip opened at Rs. 52.00 and has touched a high and low of Rs. 53.80 and Rs. 51.25 respectively. So far 29408 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 77.40 on 08-Apr-2011 and a 52 week low of Rs. 20.75 on 21-Dec-2011.

Last one week high and low of the scrip stood at Rs. 53.80 and Rs. 44.05 respectively. The current market cap of the company is Rs. 1040.41 crore.

The promoters holding in the company stood at 82.98% while Institutions and Non-Institutions held 9.03% and 7.99% respectively.

IVRCL’s subsidiary has clinched two deals valued over Rs 3,000 crore. The company’s subsidiary - IVRCL Asset & Holding, has been adjudged as lowest bidder for ‘6 lanning of Gundugolonu to Rajahmnudry Section of NH-5’ from National Highway Authority of India (NHAI) and ‘4 lanning of Patiyala to Bathinda Section of NH-64’ by PWD (B&R) Department, Government of Punjab.

The order bagged on DBFOT basis for a concession period of 24 years from NHAI is estimated to the worth of Rs 1,617 crore and is expected to be constructed within 30 months from the date of appointment. The project corridor is part of up gradation of existing 4 lane divided carriageways into 6 lane divided carriageway under Phase-V of National Highway Development Project (NHDP).

The project includes construction of 1 major bridge of 105M; Minor bridges of 38 Nos; Railway Bridges of 2 Nos; Grade Seperators-6 Nos, under passes of 29 Nos and service road of 146 km. The order bagged on DBFOT basis for a concession period of 24 years from Government of Punjab is estimated to the worth of Rs 1,586 crore and is expected to be constructed within 30 months from the date of appointment. The project corridor is part of up gradation of existing 2 lane divided highway into 4 lane divided carriageway.

The scope of the project includes construction of 4 lane divided carriageway having 18.4 km of Patiyala Bypass, 12km of Sangrur Bypass, and Dhanoula Bypass. This also includes construction of 1 major bridge of 60 M, minor bridge of 29 Nos, Railway Bridges of 2 Nos, Grade separators-12 Nos, under passes of 10 Nos, service road of 105 km.