Multibagger penny stock under Rs 35: This civil construction company bags Rs 4,428 crore order from National Highways Authority of India!

Shares of the company gained more than 15 per cent in the last six months.

IRB Infrastructure Trust, the Private InvIT of IRB, has received the Letter of Award (LoA) from the National Highways Authority of India (NHAI) for the Rs. 4,428 crores for Lalitpur Lakhnadon NH44 TOT 12 Project. This award will take IRB's asset base to Rs. 75,000 crores, and its share in the TOT space to 42 per cent, the largest by any private player in India.

The TOT-12 project is a 316 km (1,264 lane km) stretch of highway between Srinagar in the north and Kanyakumari in the south. It is the single largest major highway link between these two cities and covers prime cities in Madhya Pradesh, including Lalitpur, Gwalior, Sagar, Narsinghpur, and Lakhnadon.

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The stretch has four toll plazas and is expected to have strong traffic visibility due to upcoming developments such as the Hyderabad-Nagpur Industrial Corridor, Hyderabad-Bangalore Industrial Corridor, Hyderabad Warangal Industrial Corridor, Multi-Model Logistic Park at Nagpur, and high growth states along the NH44 like Uttar Pradesh, Maharashtra, Telangana, and Karnataka.

IRB Infrastructure Developers Limited (IRB) is a leading infrastructure development company in India, with a strong track record of executing and operating complex projects. The company has a portfolio of over 15,000 lane km of highways, making it one of the largest highway operators in the country.

The stock has given multibagger returns of over 150 per cent in the last three years. FIIs have increased their stake in the company to 7.38 per cent in September 2023. The company has an order book of Rs 33,700 crores, and investors should keep a close eye on this multibagger penny stock.

Disclaimer: The article is for informational purposes only and not investment advice.