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It is known that, most recently, IRB Infrastructure Developers bagged the tender for the operation of Hyderabad's Outer Ring Road for a period of 30 years. The company clinched the deal on a Toll, Operate and Transfer (TOT) basis by paying Rs 7,380 crore. The TOT model has come in for criticism from several quarters. The critics have been reminded that the model, which has
Narayana Reddy alleged that money has changed hands in accepting the bid of the private company and the hand of the ruling BRS was behind it.
IRB Infra has emerged as the selected bidder for the project of Tolling, Operation, Maintenance and Transfer of Nehru Outer Ring Road in Hyderabad, Telangana. And IRB Infrastructure has secured an order from Hyderabad Metropolitan Development Authority.
With this award, IRB Infras' asset base expands to over Rs 70,000 crore and the O&M order book grows by Rs 14,500 crore. It is the largest single-asset TOT project in the country.
Based on the OI percentage, 135 stocks were on the short-covering list. These included Coforge, HDFC, Tata Consumer Products, Vodafone Idea, and City Union Bank.