IL&FS Engineering up over 10% on winning Rs 675-crore road project
The stock rallied 12% to Rs 67.50 on the BSE on back of heavy volumes.
 "IL&FS Engineering up over 10% on winning Rs 675-crore road project")
IL&FS Engineering and Construction Company has rallied 12% to Rs 67.50 on the BSE after the announced that the company has bagged road projects worth Rs 675 crore from Ministry of Road Transport and Highways (MoRTH).
“The company has received a letter of acceptance (LoA) from Ministry of Road Transport and Highways (MoRTH) for a total value of Rs 675 crore for rehabilitation and upgradation to 2 lanes with paved shoulders configuration and strengthening of Birpur-Bihpur section (from km. 0.0 to km 106) of NH-106 in the state of Bihar under Phase-I of NHDP,” IL&FS Engineering said in a statement.
The project involves engineering, procurement, and construction (EPC) with a completion period of 36 months, it added.
The stock hit an intra-day high of Rs 68.90 on the BSE on back of heavy volumes. A combined 854,900 shares changed hands on the counter against an average sub 200,000 shares that were traded daily in past two weeks on the BSE and NSE.
“The company has received a letter of acceptance (LoA) from Ministry of Road Transport and Highways (MoRTH) for a total value of Rs 675 crore for rehabilitation and upgradation to 2 lanes with paved shoulders configuration and strengthening of Birpur-Bihpur section (from km. 0.0 to km 106) of NH-106 in the state of Bihar under Phase-I of NHDP,” IL&FS Engineering said in a statement.
The project involves engineering, procurement, and construction (EPC) with a completion period of 36 months, it added.
The stock hit an intra-day high of Rs 68.90 on the BSE on back of heavy volumes. A combined 854,900 shares changed hands on the counter against an average sub 200,000 shares that were traded daily in past two weeks on the BSE and NSE.