Share price of Nila Infrastructures gained nearly 7 percent intraday Wednesday as it has entered into two separate letter of acceptance (LOA) with Gujarat State Road Transport Corporation (GSRTC) for development of bus terminals under public private partnership.
The company has executed LOA for development of Amreli Bus Terminals and another LOA is executed in consortium with Vyapti Infrabuilt for development of Modasa Bus Terminal.
The company will get right to develop, design, finance, construct, operate and maintain the commercial facilities to be leased upto period of 90 years.
Manoj Vadodaria, CMD of Nila Infrastructure said, "In line with our vision, to contribute to the economic prosperity and growth through participation in project of national importance, we have got this opportunity to provide a travelling-experience to the passengers of GSRTC."
At 11:01 hrs Nila Infrastructures was quoting at Rs 16.90, up Rs 0.65, or 4 percent on the BSE.