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Thursday, 29 December 2016

The announcement was made after market hours yesterday, 28 December 2016. Meanwhile, the BSE Sensex was up 27.06 points, or 0.10%, to 26,237.74. On the BSE, so far 1.57 lakh shares were traded in the counter, compared with average daily volumes of 2.43 lakh shares in the past one quarter. The stock had hit a high of Rs 195.60 and a low of Rs 193 so far during the day.

The stock hit a 52-week high of Rs 269.30 on 4 January 2016. The stock hit a 52-week low of Rs 177.50 on 23 November 2016. The stock had outperformed the market over the past 30 days till 28 December 2016, rising 1.12% compared with the 0.69% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 22.86% as against Sensex's 5.81% decline.

The mid-cap company has equity capital of Rs 351.45 crore. Face value per share is Rs 10. IRB Infrastructure Developers said it received letter of award from National Highways Authority of India (NHAI) for six-laning of 90 km stretch of National Highway (NH) 79A and NH 79 in Rajasthan on design-build-finance-operate-transfer (DBFOT) (Toll) under National Highways Development Project (NHDP) Phase V package - I project.

The estimated project cost of the company is approximately Rs 1530 crore. The concession period of the project is 20 years, including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 186.30 crore to NHAI in terms of the concession agreement, the company said. On a consolidated basis, IRB Infrastructure Developers' net profit fell 5% to Rs 142.18 crore on 12.31% increase in net sales to Rs 1290.59 crore in Q2 September 2016 over Q2 September 2015.
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