Shares of IRB Infrastructure Developers have surged 7% to Rs 141, extending its 15% rally in past five trading sessions, after the company said it has bagged an Rs 2,300 crore road project in Haryana from National Highways Authority of India (NHAI).
The stock opened at Rs 133 and touched high of Rs 142, its highest level since December 2012 on the BSE. The counter has seen huge trading activity with a combined 4.23 million shares changing hands on the BSE and NSE till 1025 hours.
The road project is for the construction of four lane road connecting Kaithal-Rajasthan border section of NH-152/65 from 33.250 km to 241.580 km in Haryana. It will be executed as build-operate-transfer (BOT) pattern under National Highway Development Project (NHDP) Phase IV.
Last month, IRB had announced that it had won a Rs 3,200 crore project from NHAI in Maharashtra for four-laning of Yedeshi–Aurangabad section of NH-211 from 100 km to 290.20 km. IRB’s announced that the construction order book will increase from Rs 8,600 crore to approximately Rs 10,600 crore, the company said, adding that the orders have to be executed in the next three to four years.
The stock opened at Rs 133 and touched high of Rs 142, its highest level since December 2012 on the BSE. The counter has seen huge trading activity with a combined 4.23 million shares changing hands on the BSE and NSE till 1025 hours.
The road project is for the construction of four lane road connecting Kaithal-Rajasthan border section of NH-152/65 from 33.250 km to 241.580 km in Haryana. It will be executed as build-operate-transfer (BOT) pattern under National Highway Development Project (NHDP) Phase IV.
Last month, IRB had announced that it had won a Rs 3,200 crore project from NHAI in Maharashtra for four-laning of Yedeshi–Aurangabad section of NH-211 from 100 km to 290.20 km. IRB’s announced that the construction order book will increase from Rs 8,600 crore to approximately Rs 10,600 crore, the company said, adding that the orders have to be executed in the next three to four years.
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