IRB Infra rises on emerging lowest bidder for 6 laning of Kishangarh to Gulabpura section

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IRB Infrastructure Developers (IRB Infra) is currently trading at Rs. 194.60, up by 3.30 points or 1.73% from its previous closing of Rs. 191.30 on the BSE.

The scrip opened at Rs. 196.00 and has touched a high and low of Rs. 197.00 and Rs. 194.60 respectively. So far 60,000 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. 197.00 and Rs. 184.95 respectively. The current market cap of the company is Rs. 6,839.22 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 has emerged as a preferred bidder for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package – I Project. The project is on DBFOT pattern and the project length is approximately 90 kms.

The concession period of the project is 20 years including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 186.30 crore to NHAI in terms of the concession agreement. With this order, the company’s construction order book stands at around Rs 11061 crore.

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