IRB Infrastructure Developers, a highway construction company, witnessed a rise in share price on Thursday after the company announced that AE Tollway, wholly-owned subsidiary of the company, has bagged Rs 26.50 billion project from the National Highways Authority of India (NHAI) under NHDP Phase-V on BOT (Toll) mode.

The company said, ''AE Tollway, has now executed concession agreement with NHAI for the project of six Laning of Agra-Etawah Bypass section of NH-2 (from km 199.660 to km 323.525) in the state of Uttar Pradesh under NHDP Phase-V on BOT (Toll) mode.''

"The concession period of the project is 24 years and construction period is 910 days," it added.

The company has offered premium of Rs 810 million to NHAI, which will increase 5% every year.

Shares of the company are trading at Rs 225.40, up Rs 3.95, or 1.78% at the Bombay Stock Exchange (BSE) on Thursday at 10:23 a.m.

Total volume of shares traded on the bourses today was lower by 70.30% to 445,096 compared with 22-day average volume of 1,498,444.