RInfra surges on commencing operation of sixth road project

Reliance Infrastructure (RInfra) is currently trading at Rs. 561.00, up by 2.65 points or 0.47% from its previous closing of Rs. 558.35 on the BSE.

The scrip opened at Rs. 562.50 and has touched a high and low of Rs. 564.50 and Rs. 556.15 respectively. So far 176189 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 679.70 on 06-Mar-2012 and a 52 week low of Rs. 328.35 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 564.50 and Rs. 526.85 respectively. The current market cap of the company is Rs. 14739.14 crore.

The promoters holding in the company stood at 48.53% while Institutions and Non-Institutions held 36.36% and 14.58% respectively.

Reliance Infrastructure (RInfra), one of the largest road developers in the country, has commenced the operation of its sixth road project through its Special Purpose Vehicle (SPV), GF Toll Road from Gurgaon to Faridabad. The four laning of Gurgaon - Faridabad and two laning of Ballabhgarh - Sohna road have been completed and toll collections have been started.

It is RInfra SPV’s first State road project, executed on BOT (Build, Operate and Transfer) pattern, under the aegis of Haryana Public Works Department, Government of Haryana. The project will be transferred back to the Government after 17 years concession period, during which time the road will be operated and maintained by RInfra’s SPV.

Built at a cost of Rs 800 crore, Gurgaon Faridabad corridor connects major tourist destinations, industrial zones, corporate offices and International airport (T3) of Delhi. This 66 kms long corridor includes Gurgaon-Faridabad, Ballabhgarh-Sohna, Pali Bakri, Surajkund Road.

The 25 kms Gurgaon-Faridabad road starting from Gurgaon’s Mehrauli Road at Sikanderpur and ending at the junction of Pali Bhakri road in Faridabad, involved widening of the existing two lane road to four lanes. The 6 kms of Municipal Corporation of Faridabad road leading to Surajkund and 3 kms of Crusher Zone Road were also constructed for the benefit of the commuters.

The 28 kms Ballabhgarh- Sohna (BS) road starting from Ballabhgarh (35kms on Delhi- Mathura Road) and ending at Rewari - Palwal involved re-construction and widening of two lanes. This stretch also includes 4 kms road from Pali village to Faridabad - Gurgaon junction.