IRB Infrastructure wins highway project in Rajasthan
Shares of IRB Infrastructure Developers climbed more than 3 per cent after the company announced that it emerged the lowest bidder for a highway project in Rajasthan.
By ET Bureau |
MUMBAI: Shares of IRB Infrastructure Developers climbed more than 3 per cent after the company announced that it emerged the lowest bidder for a highway project in Rajasthan.
The project is on grant basis with concession period of 25 years and estimated cost of the project is Rs 1500 crore, the company said in a statement to the exchanges.
The company has sought a grant of Rs 306 crore for the project, which is on build-operate-transfer basis, from the National Highways Authority of India.
Earlier this month, the company had emerged the lowest bidder for a similar project in Punjab worth Rs 1200 crore for which it had sought a grant of Rs 126.90 crore.
At 1:30 pm, the company���s shares were trading at Rs 144.20, up 3.11 per cent after surging to a high of Rs 146.40.
The project is on grant basis with concession period of 25 years and estimated cost of the project is Rs 1500 crore, the company said in a statement to the exchanges.
The company has sought a grant of Rs 306 crore for the project, which is on build-operate-transfer basis, from the National Highways Authority of India.
Earlier this month, the company had emerged the lowest bidder for a similar project in Punjab worth Rs 1200 crore for which it had sought a grant of Rs 126.90 crore.
At 1:30 pm, the company���s shares were trading at Rs 144.20, up 3.11 per cent after surging to a high of Rs 146.40.
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