InvestorQ : What is the reason IRB rallied so sharply on 31 March? Was it due to the orders?
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What is the reason IRB rallied so sharply on 31 March? Was it due to the orders?

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Deepa Salunkhe answered.
3 weeks ago
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IRB Infrastructure stock rallied by up to 9% to Rs.112.30 in intra-day trades on 31 March. This was after the company announced that it had added two new public-private partnership or PPP projects to its portfolio. These are 2 highway projects with project cost of Rs.3179 crore. These projects are located in the states of West Bengal and another one in Himachal Pradesh.

For the full financial year, IRB Infra has received orders to the tune of Rs.5,004 crore, which approximately works out to 5% of the total market share of PPP contracts handed out to developers by the National Highways Authority of India or NHAI. This pertains only to orders in the fiscal year FY21. IRB has a total order book standing at Rs.14,509 crore. A total of 3.2 million equity shares changed hands in the early hours of trade on Wednesday.

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