ILFS Engineering gains 5% on contract win worth Rs 582 crore
Shares of IL&FS Engineering and Construction Company has locked at 5 percent upper circuit on contract win worth Rs 582 crore.
There were pending buy orders of 163,447 shares, with no sellers available.
The company has received a letter of acceptance (LoA) for a road contract from IL&FS Transportation Networks (ITNL).
The total value of the contract is Rs 581.96 crore and completion period is 21 months.
The scope of work for this contract involves four laning from km 165.600 to km 220.00 of Amravati – Chikhli section of NH-6 in the state of Maharashtra on item rate basis.
IL&FS Engineering Services is currently working on Rs 5012 crore worth road projects across India.
The company has posted net profit of Rs 40.14 crore in the quarter ended September against net loss of Rs 81.59 crore in the same quarter of last year.
At 10:29 hrs IL&FS Engineering and Construction Company was quoting at Rs 51.25, up Rs 2.40, or 4.91 percent.
The share touched its 52-week high Rs 65.95 and 52-week low Rs 31 on 21 February, 2017 and 29 September, 2017, respectively.
Posted by Rakesh Patil