BF Utilities shares gained over 9 per cent on Tuesday to a day high of Rs 688.40, extending its gains to the fourth day. The infra player had surged over 20 per cent yesterday, bringing its total gains to over 41 per cent in the last four trading sessions.
Its shares got a boost after Karnataka High Court cleared its Nandi Infrastructure Corridor project. BF Utilities holds 74.5 per cent stake in the Nandi Infrastructure Corridor project.
Under the Nandi Infrastructure Corridor project, the company is constructing a 164 km tolled expressway connecting Bangalore and Mysore.
BF Utilities is a part of $2.4 billion Kalyani Group. The company earlier operated in two business segments - infrastructure business and investment business. But after a restructuring, the infra business remained with BF Utilities and the investment business was transferred to BF Investment.
Shares in BF Utilities ended 4.6 per cent higher at Rs 658.50 apiece, outperforming the broader Nifty, which closed 0.68 per cent lower on Tuesday.
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