The IRB infrastructure developer the stock price rose 4 percent intraday on September 3 after the company emerged as the preferred bidder for the construction of a road project in Tamil Nadu.
“Release.
“We are happy to have other projects in Tamil Nadu after the existing Omalur – Salem – Namakkal Project, which is under the bot space,” said Virendra D. Mhaiskar, Chair and Managing Director, Irb Infrastructure Developer.
“Winning this project has validated our integrated strength, developed in the last more than 20 years, in carrying out all types and sizes of highway infrastructure projects, both under bot, tot, ham or EPC, regardless of the geographical field,” he added.
The concession period for the project will consist of 730 days for construction and 15 years of operation & maintenance rights afterwards.
After the project award, the company’s order book will stand at Rs 14,189 Crore.
At 9:58 a.m. the IRB infrastructure developer quoted at Rs 173.75, up 6.25, or 3.73 percent on BSE.
This section touched the highest 52 weeks Rs 189.50 and the lowest 52 weeks amounting to Rs 97.75 on July 16, 2021 and December 22, 2020, respectively.
At present, this trades 8.31 percent below the 52-week high and 77.75 percent above the lowest level of 52 weeks.
