IRB Infrastructure soars on receiving LoA for four laning of Kaithal - Rajasthan Border Section

IRB Infrastructure Developers is currently trading at Rs 117.00, up by 1.15 points or 0.99% from its previous closing of Rs 115.85 on the BSE. The scrip opened at Rs 116.40 and has touched a high and low of Rs 117.80 and Rs. 116.35 respectively. So far 100531 shares were traded on the counter. The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 136.00 on 20-May-2013 and a 52 week low of Rs. 51.90 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs 122.40 and Rs 112.25 respectively. The current market cap of the company is Rs 3850.44 crore. The promoters holding in the company stood at 61.71% while Institutions and Non-Institutions held 28.63% and 9.66% respectively. IRB Infrastructure Developers has emerged as a selected bidder and received Letter of Award (LoA) from NHAI for the project of four laning of Kaithal - Rajasthan Border Section of NH-152/65 from km 33.250 to km 241.580 (Design Length 166 km) in the state of Haryana to be executed as BOT (Toll) on DBFOT Pattern under NHDP Phase - IV. The project is on DBFOT Pattern and the estimated project cost is approximately Rs 2,300 crore. The concession period for the same is 27 years and the construction period is 910 days. The company has sought Rs 234 crore viability gap funding from NHAI. With this Project, the company has expanded its base in seventh state viz. Haryana. IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.