IL&FS Transportation Networks, the transportation infrastructure company  witnessed a rise in share price on Wednesday after the company bagged two projects from National Highways Authority of India (NHAI) for Rs 41.74 billion.

The company said, "Fagne Songadh Expressway, a wholly owned subsidiary of the company, has signed a concession agreement with NHAI on build-operate-transfer basis (BOT) for development of 4-laning of Fagne-Gujarat/Maharashtra Border (Package-III) section of NH-6 in the state of Maharashtra from 510 km to 650.94 km."

"Amravati Chikli Expressway, a wholly owned subsidiary of the company, has signed the concession agreement with NHAI on BOT basis development of 4-laning of Amravati-Chikhli (Package-I) section of NH-6 in the state of Maharashtra from 166 km to 360 km," it added.

The estimated cost for developing Fagne-Gujarat/Maharashtra highway is Rs 18.86 billion. Whereas, development of Amravati-Chikhli highway is expected to be Rs 22.88 billion

Both the projects are on toll basis with a concession period of 19 years including construction period of 910 days.

Shares of IL&FS Transportation Networks are trading at Rs 92.00, up Rs 3.85, or 4.37% at the Bombay Stock Exchange (BSE) on Wednesday at 11:30 a.m.

The scrip has touched an intra-day high of Rs 93.80 and low of Rs 88.65. The total volume of shares traded at the BSE is 24,194.