Shares of IRB Infrastructure Developers rose 3 percent in the early trade Wednesday as company emerged as preferred bidder for two projects in Tamil Nadu.
The company with consortium with Modern Road Markets, which is a wholly owned subsidiary of the company, has emerged as a preferred bidder for two hybrid annuity projects under NHDP phase IV in the state of Tamil Nadu.
The projects include four laning of Puducherry to Poondiyankuppam at a cost of Rs 1296 crore and Poondiyankuppam to Sattanathapuram at a cost of Rs 2169 crore of NH-45A.
The construction period is 730 days and operation period is 15 years for the said projects.
At 09:25 hrs IRB Infrastructure Developers was quoting at Rs 221.50, up Rs 5.55, or 2.57 percent on the BSE.
Posted by Rakesh Patil
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