Ircon International Ltd emerges as the lowest bidder for the project floated by NHAI

Ircon International Limited (IRCON) has emerged as the lowest bidder for Construction of 8-Lane Access Controlled Expressway (Bhoj to Morbe Section-SPUR of Vadodra Mumbai Expreesway) in the State of Maharashtra on Hybrid Annuity Mode under Bharatmala Pariyojana (Phase 2 - Package XVII). The project was floated by National Highways Authority of India on competitive bidding and value of the project is approx. RS.1436 Crore (Bid Project Cost) The completion period of the project is 2.5 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.

Letter of Award is yet to be issued by National Highways Authority of India.

Shares of Ircon International Limited was last trading in BSE at Rs. 45.05 as compared to the previous close of Rs. 45.80. The total number of shares traded during the day was 270696 in over 2195 trades.

The stock hit an intraday high of Rs. 46.20 and intraday low of 44.95. The net turnover during the day was Rs. 12231425.00.

Source : Equity Bulls

Keywords

IrconInternational INE962Y01021 LowestBidder BharatmalaPariyojana