Innovision share price jumps 18% after bagging NHAI toll collection contract in Madhya Pradesh
Innovision share price rose 18% after receiving a Letter of Award from NHAI for user fee collection at Pachwara Fee Plaza in Madhya Pradesh, worth ₹24.52 crore. The company also secured an additional contract for fee collection on NH-3 valued at ₹219.07 crore.
Innovision share price jumped 18% on Wednesday, 9 September, after the company received a Letter of Award (LoA) from the National Highways Authority of India (NHAI) for user fee collection at Pachwara Fee Plaza on NH-39 in Madhya Pradesh.
The latest order is worth ₹24.52 crore and covers user fee collection at the fee plaza for the four-laning of the Jhansi-Khajuraho section of NH-39. The contract also includes the upkeep and maintenance of adjacent toilet blocks, along with replenishment of consumable items. The order is to be executed over a period of one year.
In a separate order, Innovision has been appointed as a user fee collection agency for the IDTL A and IDTL B fee plazas for the six-laning of the Indore-Dewas section of NH-3 in Madhya Pradesh. The contract, awarded through competitive bidding via e-tender, has a total commercial consideration of ₹219.07 crore and is also valid for one year.
The company said both orders were awarded by domestic entities and that no promoter, promoter group or group company has any interest in the entities awarding the contracts.
Innovision’s recent NHAI order wins
The latest contracts add to a series of NHAI orders secured by Innovision in recent months.
Earlier this month, the company received an LoA worth ₹48.25 crore for user fee collection at Mangapatnam Fee Plaza on NH-67 in Andhra Pradesh. The contract covers the Tadipatri-Jammalamadugu route via Muddanur and includes the upkeep and maintenance of adjacent toilet blocks and the replenishment of consumable items.
In August, Innovision secured another NHAI contract worth ₹30.36 crore for user fee collection at Manambadi Fee Plaza on the Sethiyathope-Cholapauram section of NH-36 in Tamil Nadu. The order also includes maintenance of adjacent toilet blocks and replenishment of consumables.
The latest contract wins strengthen Innovision’s order pipeline and expand its presence across highway fee-collection projects in multiple states.
Innovision share price performance
The stock has gained 8.48% in the past week and 10.42% over the last two weeks. However, it has declined 1.41% in the past month and 4.70% over the last three months.
Innovision share price today opened at ₹271.80 apiece on the BSE, the stock touched an intraday high of ₹296 per share, and an intraday low of ₹265 apiece.
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