1. IRB Infrastructure gains 10 per cent on bagging Rs 10,050 cr tunnel project in J&K

IRB Infrastructure gains 10 per cent on bagging Rs 10,050 cr tunnel project in J&K

IRB Infrastructure Developers share price gained as much as 9.98 per cent up in early trade on Monday after the company informed the bourses that it has received Rs 10,050 crore road project in Jammu and Kashmir.

By: | Updated: January 4, 2016 5:17 PM
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IRB Infrastructure Developers share price gained as much as 9.98 per cent up in early trade on Monday after the company informed the bourses that it has received Rs 10,050 crore road project in Jammu and Kashmir. (Photo: Reuters)

IRB Infrastructure Developers share price gained as much as 9.98 per cent up in early trade on Monday after the company informed the bourses that it has received Rs 10,050 crore road project in Jammu and Kashmir.

At 9.45 am, IRB’s share price was trading 7.29 per cent up at Rs 262.70. The scrip opened at Rs 269.00 and has touched a high and low of Rs 269.30 and Rs 261.45, respectively, in trade so far. The scrip later settled 5.25 per cent up at Rs 257.70.

So far, around 2.81 lakh shares of IRB Infrastructure exchanged hands on the BSE as compared with two-week average daily volume of 0.94 lakh shares.

The promoters holding in the company stood at 57.79 per cent while institutions and non-institutions held 35.93 per cent and 6.28 per cent, respectively.

According to the company’s release, the project involves construction of a tunnel spanning a length of 14.08 kilometers in Jammu and Kashmir.

The company will receive semi-annual annuity of Rs 981 crore after the completion of construction of the project.

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