KNR Constructions gets LoA for development of six lane road project; Stock gains

The bid project cost is Rs1041.50cr.

Sep 16, 2021 09:09 IST India Infoline News Service

KNR Construction
KNR Constructions Ltd has informed to the Exchange that the Company is in receipt of Letter of Acceptance (LoA) for Development of Six Lane Chittor-Thatchur Highway from KM 61.380 to 96.040 on Hybrid Annuity Mode under Bharatmala pariyojana, in the State of Andhra Pradesh and Tamil Nadu (package III).

According to the regulatory filing, the bid project cost is Rs1041.50cr and the bid price is Rs954.29cr.

The expected completion period is 24 months & operation period is 15 years from COD.

At around 9:33 AM, KNR Constructions was trading at Rs313.85 apiece up by Rs0.65 or 0.21%. The scrip opened at Rs313.20 apiece on Thursday.

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