JITF Infra in limelight

JITF Infralogistics, even in this market, briefly skimmed the 5% UC of Rs.119.40 before coming off and now trading a Rs.117 levels, up over 3%.

The stock price rose on news that the company has received a final award in its favour after arbitration proceedings.

The award has gone in favour of JITF Urban Waste Management (Ferozepur), a subsidiary of the company and the aggregate amount of various claims under the award of Rs 92 crore.

The arbitration proceedings took place between JITF Urban Waste Management (Ferozepur) and Municipal Corporation Moga and Department of Local Government, Punjab, with respect to the Concession Agreement for development, construction, operation and maintenance of an Integrated Municipal Solid Waste Management Project for Ferozepur Cluster in Punjab.