Infrastructure developers’ stocks were trading higher as the government approved amendments proposed to the Toll Operate Transfer (TOT) model for national highways.
Sadbhav Engineering is currently trading at Rs. 128.70, up by 7.05 points or 5.80% from its previous closing of Rs. 121.65 on the BSE. The scrip opened at Rs. 138.00 and has touched a high and low of Rs. 140.30 and Rs. 128.65 respectively. So far 24125 shares were traded on the counter.
Larsen & Toubro is currently trading at Rs. 1401.40, up by 20.75 points or 1.50% from its previous closing of Rs. 1380.65 on the BSE. The scrip opened at Rs. 1404.00 and has touched a high and low of Rs. 1417.50 and Rs. 1393.00 respectively. So far 181287 shares were traded on the counter.
NCC is currently trading at Rs. 64.10, up by 3.00 points or 4.91% from its previous closing of Rs. 61.10 on the BSE. The scrip opened at Rs. 67.20 and has touched a high and low of Rs. 70.00 and Rs. 62.65 respectively. So far 5045930 shares were traded on the counter.
The Cabinet Committee on Economic Affairs (CCEA) has given its approval to the amendments proposed in the TOT model by the National Highways Authority of India (NHAI). Public-funded national highway (NH) projects that are operational and have toll revenue generation history of one year after the commercial operations date (COD) will be monetised through the TOT model.
The monetisation will be subject to approval of the competent authority in the Ministry of Road Transport and Highways/NHAI on a case to case basis. The corpus generated from proceeds of such project monetisation will be used by the government to meet its fund requirements regarding future development and O&M (operations and maintenance) of highways in the country.