Ircon International Ltd emerges as lowest bidder projects from NHAI and Chennai Metro Rail Limited

Ircon International Limited has emerged lowest bidder for the projects floated by National Highways Authority of India and Chennai Metro Rail Limited. Ircon International Limited (IRCON) has emerged lowest bidder in the following projects:

1) Constuction of Eight lane access controlled Expressway from Km 3.000 to Km 20.200 (Shirsad to Akloli Section - SPUR of Vadodara Mumbai Expressway) in the State of Maharashtra on Hybrid Annuity Mode under Bhartmala Pariyojana (Phase 11- Pacakge-XIV). The project is fioated by National Highways Authority of India and value of the project is approx. RS.1124 Crore (Bid Project Cost). The completion period of the project is two years.

This work will be undertaken & executed by a Special Purpose Vehicle ("Concessionaire" as a limited liability company) which shall be incorporated by IRCON as its Wholly-Owned Subsidiary Company.

2) Supply, Installation, Testing and Commissioning of Track Works of Standard Gauge including all associated works in underground and elevated section between Light House Station and Poonamalle Bypass Statation and Poonamalle Depot The project is fioated by Chennai Metro Rail Limited and value of the project is approx. RS.337.61 Crore. The completion period of the project is approx. four years.

These works have been invited on competitive bidding basis.

Letter of Award is yet to be issued by National Highways Authority of India and Chennai Metro Rail Limited.

Shares of Ircon International Limited was last trading in BSE at Rs. 46.20 as compared to the previous close of Rs. 46.45. The total number of shares traded during the day was 238112 in over 1673 trades.

The stock hit an intraday high of Rs. 46.80 and intraday low of 45.95. The net turnover during the day was Rs. 11007688.00.

Source : Equity Bulls

Keywords

IrconInternationalLimited INE962Y01021 IRCON Construction Engineering NHAI ChennaiMetroRail