IRB share price rallied 6 per cent to Rs.266 on the BSE on the back of 3-fold jump in trading volumes. The stock of the company engaged in roads & highways business was trading near to its 52-week high of Rs.272 touched on 20th October, 2016 in intra-day trade. A combined 8.39 million shares representing 2.4 per cent of total equity of IRB Infra changed hands on the counter on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
On Tuesday 20th September, the company announced that it had emerged as a preferred bidder for the project of 6 laning from Kishangarh – Udaipur – Ahmedabad Section of close to 125 Kms in the state of Rajasthan. The said section of NH-79 shall be from km 90, near Gulabpura to km 214.870 at the end of Chitorgarh bye pass. IRB Infra has offered a premium of Rs.228.60 cr to NHAI in terms of concession agreement.
The company said in a statement that subject to award, IRB’s construction order book shall stand to rise to approximately Rs.11,300 cr, to be executed in the next 4 years.This shall boost the company’s construction order book visibility for the next 3 to 4 years, the company added.
At 03:20 pm, the stock was up 4 per cent at Rs.260 on the BSE, as compared with 0.39 per cent fall in the S&P BSE Sensex. IRB share price closed at Rs.261.10, up 4 per cent on the NSE. On the National stock Exchange, the intraday high of the stock stood at Rs.266.40. On the other hand, the intraday low of the scrip stood at Rs.249.20.
To get information on the financials and fundamentals of the IRB stock and to acquire knowledge about its support and resistance levels, kindly pay a visit to IRB share price history.
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