IRB Infrastructure's Shares Surge Amid New NHAI Project Win

IRB Infrastructure Developers' shares rose significantly after securing a Rs 9,270 crore TOT project from NHAI. This surge reflects investor enthusiasm for IRB's latest venture as part of NHAI's asset monetisation programme. As India's leading private toll road developer, IRB boasts an extensive asset base nationwide.

IRB Infrastructure Developers saw its shares climb by nearly 4% following the company's announcement of winning a toll-operate-transfer (TOT) project from the National Highways Authority of India (NHAI) in Uttar Pradesh, valued at Rs 9,270 crore.

On Monday, the company's stock closed at Rs 44.53 apiece on the BSE, marking a 3.78% increase. Meanwhile, on the NSE, it rose by 3.12% to settle at Rs 44.30 per share. Intraday, the shares soared to highs of Rs 45.93 and Rs 45.95 on the BSE and NSE, respectively.

IRB Infrastructure Trust, the largest private infrastructure investment trust in India, is spearheading this significant project, aligned with the NHAI's asset monetisation strategy. This venture highlights IRB's expansive footprint, with an asset base exceeding Rs 80,000 crore across 12 states.

(With inputs from agencies.)