Chief minister A Revanth Reddy orders a comprehensive inquiry into the contract given to a private agency by the previous BRS govt for integrated toll collection and maintenance of Nehru Outer Ring Road. The state govt is losing thousands of crores of rupees toll tax due to this contract.
Ventura Securities is bullish on IRB Infrastructure Developers has recommended buy rating on the stock with a target price of Rs 94 in its research report dated November 06, 2023.
Managing director Jayant Mhaiskar said the company will issue shares to Nagpur-based Ashmi Road Carriers (ARCPL) after approval from shareholders. "We have done our checks with regard to PPIRP and we qualify for the same. Separately, we are also talking to banks to restructure our loans in our operating company, MEP Infrastructure Private Limited (MIPL) by infusing ₹125 crore," he said.
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