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IRB Infrastructure rises with arm receiving Rs 20.55 crore arbitral award

21 Dec 2016

IRB Infrastructure Developers is currently trading at Rs. 198.95, up by 1.20 points or 0.61% from its previous closing of Rs. 197.75 on the BSE.

The scrip opened at Rs. 198.40 and has touched a high and low of Rs. 200.05 and Rs. 198.40 respectively. So far 24,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 269.30 on 04-Jan-2016 and a 52 week low of Rs. 177.50 on 23-Nov-2016.

Last one week high and low of the scrip stood at Rs. 201.80 and Rs. 191.30 respectively. The current market cap of the company is Rs. 7,004.40 crore.

The promoters holding in the company stood at 57.37%, while Institutions and Non-Institutions held 36.24% and 6.39% respectively.

IRB Infrastructure Developers’ wholly-owned subsidiary - IRB Ahmedabad Vadodara Super Express Tollway (IRBAV) has received Rs 20.55 crore from NHAI, against the bank guarantee submitted by IRBAV as part of 75% of the Arbitral Award amount pronounced by the Arbitral Tribunal.

This is pursuant to the measures approved by the Cabinet Committee on Economic Affairs (CCEA) for revival of the construction sector directing government agencies to pay 75% of the arbitral award amount against Bank Guarantee where government agencies have challenged the arbitral award.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323