IRB Infrastructure Developers soars as its associate gets LoA from NHAI
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IRB Infrastructure Developers is currently trading at Rs. 34.83, up by 1.77 points or 5.35% from its previous closing of Rs. 33.06 on the BSE.
The scrip opened at Rs. 33.94 and has touched a high and low of Rs. 34.91 and Rs. 33.57 respectively. So far 1836090 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 37.00 on 20-Oct-2023 and a 52 week low of Rs. 22.56 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 35.83 and Rs. 31.05 respectively. The current market cap of the company is Rs. 19964.93 crore.
The promoters holding in the company stood at 34.39%, while Institutions and Non-Institutions held 54.67% and 10.94% respectively.
IRB Infrastructure Developers’ associate company -- IRB Infrastructure Trust has received Letter of Award (LoA) from National Highways Authority of India (NHAI) for Rs 4,428 crore Lalitpur Lakhnadon NH44 TOT 12 project. This will now enable the Trust to form Project SPV and proceed for signing Concession agreement and the financial closure subsequently in a stipulated time frame.
The award of this project will boost IRB’s order book by Rs 3,900 crore that includes Rs 600 crore towards EPC and balance Rs 3,300 crore towards O&M activities. The Trust had recently emerged as a Preferred bidder for around 316 Kms (around 1,264 Lane Kms) long stretch under Toll-Operate-Transfer (TOT) model for the revenue linked Concession of 20 years; thus, marking entry in the State of Madhya Pradesh – 12th Indian State for IRB Group.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
