Reliance Infrastructure shares zoom 18 pc on Rs 7,000-cr project win

New Delhi: Shares of Reliance Infrastructure zoomed nearly 18 per cent Wednesday after the company bagged a project worth Rs 7,000 crore from Maharashtra State Road Development Corporation (MSRDC).

The scrip jumped 17.44 per cent to close at Rs 60.95 on the BSE. During the day, it climbed 24.85 per cent to Rs 64.80.

At the NSE, shares of the company advanced 17.70 per cent to close at Rs 61.15.

The company's market valuation rose by Rs 238.92 crore to Rs 1,602.92 crore on the BSE.

In terms of traded volume, 67.62 lakh shares were traded on the BSE and over seven crore shares on the NSE during the day.

RInfra on Wednesday said it has bagged Rs 7,000 crore Versova-Bandra Sea Link project from MSRDC. The 17.17 km long sea link is three times the length of the Bandra-Worli Sea Link.

RInfra is fully geared to deliver the project in 60 months from the appointed date of June 24, 2019 as per the contract, the company said in a BSE filing.