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IRB Infrastructure gains with arm executing concession agreement with NHAI

30 May 2018

IRB Infrastructure Developers is currently trading at Rs. 238.00, up by 1.55 points or 0.66% from its previous closing of Rs. 236.45 on the BSE.

The scrip opened at Rs. 235.95 and has touched a high and low of Rs. 238.00 and Rs. 233.75 respectively. So far 6031 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 286.00 on 30-Apr-2018 and a 52 week low of Rs. 193.80 on 13-Dec-2017.

Last one week high and low of the scrip stood at Rs. 243.70 and Rs. 223.55 respectively. The current market cap of the company is Rs. 8310.04 crore.

The promoters holding in the company stood at 57.37%, while Institutions and Non-Institutions held 35.91% and 6.72% respectively.

IRB Infrastructure Developers’ wholly owned Subsidiary -- IRB Hapur Moradabad Tollway -- has now executed concession agreement with National Highways Authority of India (NHAI) for the project of Six Laning of Hapur bypass to Moradabad section including Hapur bypass from Km 50.000 to Km 148.277 of NH 24 in the State of Uttar Pradesh on DBFOT basis under NHDP Phase V Project.

The concession period of the project is 22 years including construction period of 910 days. Total cost of the project is around Rs 3,421 crore. The company has offered premium of Rs 31.5 crore to NHAI to be payable from 4th year from the appointed date in terms of the concession agreement.

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