Shares of IL&FS Transportation Networks today gained nearly 4 per cent after its subsidiaries bagged two projects from National Highways Authority of India.
The cost of these two projects is estimated to be over Rs 4,000 crore.
The company's shares rose 6.40 per cent to touch intra-day high of Rs 93.80 on the BSE, before finally closing at Rs 92.25, up 4.65 per cent.
On the NSE, the stock climbed 6.53 per cent to touch its intra-day high of Rs 93.80. The stock quoted at Rs 92.25, up 4.77 per cent, at the end of the session.
"The concession agreement for development of 4-laning of Fagne-Gujarat/Maharashtra Border (Package-III) section of NH-6 in the State of Maharashtra from 510 km to 650.79 km has been signed by Fagne Songadh Expressway Ltd, a wholly-owned subsidiary of the company," IL&FS Transportation said in a BSE filing.
"The concession agreement for development of 4-laning of Amravati-Chikhli (Package-I) section of NH-6 in the state of Maharashtra from 166 km to 360 km has been signed by Amravati Chikli Expressway Ltd, a wholly-owned subsidiary of the company," it added.
The company said the estimated cost of the projects are Rs 1,885.74 crore and Rs 2,288.18 crore respectively.
Both the projects were signed on September 8 on Build Operate Transfer (BOT) basis. The projects are on toll basis with a concession period of 19 years, including construction period of 910 days.
