IRB Infrastructure told CNBC-TV18 that it has bid for project and would await final outcome.
Shares of IRB Infrastructure Developers fell over a percent on February 11 despite a media report indicating that the company could be bagging Mumbai-Pune Expressway contract again.
The stock lost 5.5 percent from its intraday high. It closed at Rs 110.60, down Rs 1.50, or 1.34 percent on the BSE.
It had rallied 4 percent intraday, immediately after sources told CNBC-TV18 that the Mumbai-based road developer is set to bag the Mumbai-Pune Expressway again. But could not sustain those gains amid profit booking.
Maharashtra State Road Development Corporation (MSRDC) is set to award the Mumbai-Pune Expressway to IRB today, the report said, adding IRB and GIC consortium is expected to get tolling rights for next 10 years.
IRB Infrastructure told CNBC-TV18 that it has bid for the project and would await final outcome.
The company, which had run Mumbai-Pune Expressway between 2004-19, is expected to get investment from the Government of Singapore Investment Corporation (GIC).
MSRDC had invited fresh bids in 2019 for Mumbai-Pune Expressway.- Click here for Delhi Election Result 2020 Live Updates, News, Views and Analysis
- Click here for full coverage on Delhi Assembly Elections 2020
