Shares of MBL Infrastructures today rose sharply by 8.5 per cent after the company bagged a Rs 779 crore road project from National Highways Authority of India (NHAI).
The stock surged 7.85 per cent to settle at Rs 118.15 on BSE. Intra-day, it gained 9.9 per cent to Rs 120.40.
On NSE, it rose by 8.51 per cent to settle at Rs 118.50.
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On volume front, 1.95 lakh shares of the company were traded at BSE and over 5 lakh shares changed hands on NSE during the day.
"MBL Infrastructures Ltd has been awarded... Project on DBFOT (Design-Build-Finance-Operate-Transfer) hybrid annuity basis by National Highways Authority of India (NHAI)," the company said in a BSE filing.
During the construction, 40 per cent of the bid project (Rs 311.60 crore) will be funded by NHAI and the balance 60 per cent (Rs 467.40 crore) will be arranged by concessionaire.
