Friday, June 19, 2009

IRB Infrastructure up on Punjab highway project win

Shares of IRB Infrastructure Developers climbed nearly 5 per cent after the company announced that it emerged the lowest bidder for a highway project in Punjab.

The project is on grant basis with concession period of 20 years and estimated cost of the Project is Rs 1200 crore, the company said in a statement to the exchanges.

The company has sought a grant of Rs 126.90 crore for the project, which is on build-operate-transfer basis, from the National Highways Authority of India.

At 1:20 pm, the company’s shares were trading at Rs 134.50, up 2.63 per cent after surging to a high of Rs 142.85.

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