Srei gains as venture wins $1.2 bn project

Srei gains as venture wins $1.2 bn project
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First Published: Wed, Feb 18 2009. 11 09 PM IST
Updated: Wed, Feb 18 2009. 11 09 PM IST
Mumbai: Srei Infrastructure Finance Ltd, an Indian company that invests in power, road and port projects, gained the most in six weeks in Mumbai trading after its venture won a railway project.
Srei gained 14.62% to Rs37.25 after climbing as much as 49% earlier on Wednesday. The stock was the best performer on the BSE500 index.
The company’s venture secured an order to develop a light-rail transit system in Kolkata. The project is worth $1.2 billion (about Rs6,000 crore), Srei said in a statement to the Bombay Stock Exchange on Wednesday.
The project may be completed in four-five years once construction starts, it said.
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First Published: Wed, Feb 18 2009. 11 09 PM IST