IRB Infra jumps 7%; wins biggest-ever NHAI monetisation deal worth Rs 9,270 crore – What’s next for investors
The share price of IRB Infrastructure Development rose as much as 7% to the day’s high of Rs 45.95 on the National Stock Exchange. The sharp uptick in the stock price came after the company emerged as the lowest bidder for a project from the National Highways Authority of India (NHAI). This is the highest valued NHAI monetisation award for a 20-year concession worth Rs 9,270 crores.
The project is TOT-17 Bundle covering 366 kilometres of the Lucknow-Ayodhya-Gorakhpur Corridor on NH-27 and part of Lucknow-Varanasi Corridor on NH-731, for a Revenue Linked Concession.
