Shares of Mumbai-based freeway development firm IRB Infrastructure Developers rose as a lot as 5.84 per cent to hit an intraday excessive of Rs 115 after the corporate knowledgeable exchanges that it was awarded venture for rehabilitation and upgradation of freeway between Punjab and Himachal Pradesh by National Highway Authority of India (NHAI).
“IRB Infra Developers received letter of award from NHAI for the project of rehabilitation and upgradation to four lane configuration and strengthening of Punjab-Himachal Pradesh border from Km 11.000 to Km 42.000 (Design Length 28.700 KM) of NH-20 (New NH-154) of Pathankot-Mandi section in the state of Himachal Pradesh on Hybrid Annuity Mode (HAM),” IRB Infra Developers stated in a inventory alternate submitting.
IRB Infra Developers made a bid of Rs 828 crore for the venture whereas NHAI’s bid venture price was Rs 758.04 crore, based on info on inventory alternate submitting.
IRB Infrastructure will get development interval of 730 days and start operation for 15 years.
Meanwhile, on Tuesday, IRB Infra bagged two orders from NHAI for six laning of NH-19 from Palsit to Dankuni and for 4 laning of NH-20 on Pathankot-Mandi part.
IRB Infra Developers shares ended 4.79 per cent larger at Rs 113.85, outperforming the Sensex which ended 1 per cent larger.
