Ircon International Limited emerges as the Lowest Bidder for project from NHAI

Ircon International Limited (IRCON) has emerged as the lowest bidder for Construction of 4 by 6 lane green fields Ludhiana Rupnagar NH205 K from junction with NE5 Manewal Ludhiana to junction with NH205 Bheora Rupnagar spur to Kharar with Ludhiana bypass under BMP in Punjab on Hybrid Annuity Mode Package 366.440 to 90.500 and spur to Kharar 0.000 to 19.200 total 43.26 (Pacakge 3). The project was floated by National Highways Authority of India on competitive bidding and value of the project is approx. Rs.11 07 Crore (Bid Project Cost). The completion period of the project is 02 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. 46.65 as compared to the previous close of Rs. 47.20. The total number of shares traded during the day was 247089 in over 1890 trades.

The stock hit an intraday high of Rs. 47.90 and intraday low of 46.55. The net turnover during the day was Rs. 11633618.00.

Source : Equity Bulls

Keywords

IrconInternational INE962Y01021 LowestBidder NHAI Project OrderWin