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IRB Infrastructure shares jump 6% after bagging 2 contracts worth Rs 3,249 crore

The company said it received a letter of award for six-laning of Dankuni-Palsit stretch in West Bengal and emerged as the preferred bidder for four-laning of the Pathankot-Mandi section in Himachal Pradesh.

March 31, 2021 / 11:12 AM IST
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IRB Infrastructure Developers share price jumped over 6 percent intraday on March 31, a day after the company said it had won two highway projects in West Bengal and Himachal Pradesh.

IRB Infrastructure said on March 30 that the two new works had taken the total project wins in the current fiscal to Rs 5,004 crore, it said.

The company said it received a letter of award for BOT (build, operate, transfer) Project from the National Highways Authority of India for six-laning of the 63.38-km Dankuni-Palsit stretch of NH-19 in West Bengal with the project cost of Rs 2,421 crore.

It also emerged as a preferred bidder for the hybrid annuity model (HAM) project in Himachal Pradesh involving the four-laning of 28.700-km stretch on the Pathankot Mandi section of the NH-20 (New NH-154) with a bid project cost of Rs 828 crore.

The stock was trading at Rs 109.80, up Rs 6.45, or 6.24 percent at 1003 hours. It has touched an intraday high of Rs 112.30 and an intraday low of Rs 108.30.

The company's order book stands at Rs 14,509 crore, including the construction order book of Rs 7,583 crores.

Moneycontrol News
first published: Mar 31, 2021 10:23 am