IRB Infrastructure gains 5% on timely closure of a project

Shares of IRB Infrastructure Developers rose 5.6 percent after company achieved financial closure of a project within the timeline.

IRB PS Highway - wholly owned subsidiary of the company has achieved financial closure for the project within the timeline as specified in the concession agreement executed for the project.

Project included four laning of Poondiyankuppam to Sattanathapuram section ofNH-45A.

The company's bid project cost is of Rs 2,169 crore.

The share price declined 29 percent in last 1 month.

IRB Infrastructure Developers ended at Rs 144.30, up Rs 7.70, or 5.64 percent on the BSE.

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