Shares of IRB Infrastructure Developers rose nearly 4 per cent today after the company received letter of award from National Highways Authority of India (NHAI) for a Rs 2,100-crore project in Rajasthan and Gujarat.
The scrip gained 3.66 per cent to Rs 266 on BSE.
At NSE, shares of the company went up 3.69 per cent to Rs 266.30.
"The company has received letter of award from NHAI for the project of six laning from Udaipur to Rajasthan/Gujarat border i.E from 287.4-401.2 km section of NH 8 in Rajasthan and Gujarat," IRB Infrastructure said in a filing to the BSE yesterday.
The project will be on design, build, finance, operate and transfer (DBFOT) mode under National Highways Development Project Phase V.
"The estimated project cost of the company is Rs 2,100 crore," the company said adding the concession period of the project is 21 years including construction period of 910 days.
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