Reliance Infra leads gainers

Reliance Infra is the top gainer on the BSE currently, going up over 11.5% at Rs.57.95 and continues to remain very firmly in the green.

The market is enthused with the news that Maharashtra State Road Development Corporation (MSRDC) has formally signed a Rs.6993 crore EPC agreement with Reliance Infra for constructing the Versova-Bandra sea link project. This is in a consortium with Astaldi company of Italy, which has international experience in building such bridges on open seas. Reliance Infrastructure-Astaldi has to commission the project in five years.

The company had signed the MoU in Sept 2018 and yesterday, it was ‘formalised.’ The project has received all major project clearances, including environmental clearances.

With a length of 17.17 km, Versova-Bandra Sea Link is three times the length of the existing Bandra-Worli Sea Link, which is 5.6 km.