Shares of IRB Infrastructure Developers climbed more than 5% in a weak market as the company bagged two highway projects, one in West Bengal and Himachal Pradesh. At 2 p.m., shares of the infra company were trading at Rs 109.05, up 5.5 percent, on BSE.
“IRB Infra has received a letter of awards from the National Highways Authority of India (NHAI) for a BOT project in West Bengal and a Hybrid Annuity Model (HAM) project in Himachal Pradesh,” IRB Infra said in a report. regulatory filing on stock exchanges. The West Bengal project is worth Rs 2,421 crore and the Himachal Pradesh project is worth Rs 828 crore. These two projects brought the company’s total project orders to over Rs 5,000 crore in FY21.
IRB Infra is the largest developer of private toll roads and motorway infrastructure in India.
The Sensex was trading at 49,643.80, down 486.95 points or 0.96% and the NSE Nifty was at 14,732.70, down 116.60 points or 0.71% at the time. .