IRB Infra share price rises over 4% after firm wins Rs 2,193-crore highway project
BusinessToday.In July 13, 2020
IRB Infra share price gained over 4% intra day in today's trading session after the firm said it secured a Rs 2,193-crore highway project in West Bengal under the Bhartmala Pariyojna project. Share price of IRB Infra rose 4.27% to Rs 127 against previous close of Rs 121.80 on BSE.
The stock opened with a gain of 4.02% today. IRB Infra and Developer share price stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock has gained 34.5% in one year and risen 65% since the beginning of this year. In a month, the share gained 94.48% on BSE.
Total 2.87 lakh shares changed hands amounting to turnover of Rs 3.56 crore.
Later, the stock closed 1.15% higher at Rs 123.20 on BSE.
IRB Infrastructure said the project for widening of 63.83 km stretch on National Highways-19 is its first project in eastern India and marks its entry in the ninth state in the country. The section is part of the Golden Quadrilateral Project and the firm has approximately 20% share in the same project.
Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure said, "We continue to look for opportunities to expand and diversify our presence. With this win, we will enter the eastern jewel of India. We are committed to build world class highway infrastructure for the development of eastern region and to bring quality connectivity with the rest of the country."
IRB Infrastructure Developers Ltd is a private roads and highways infrastructure developer in India, with an asset base of over Rs 45,000 crore across the parent company and two InvITs.