IVRCL spurts on bagging EPC order

The infra company has bagged a Rs 3,624 crore turnkey EPC project from the ministry of Interior, Saudi Arabia.

IVRCL has spurted by 9% on the BSE after bagging a Rs 3,624 crore turnkey EPC project from the ministry of Interior, Saudi Arabia. The stock is quoting at Rs 15, higher by Rs 1 or 9%, on the BSE.

The EPC project would involve the construction of pre-fabricated residential complexes in three locations--Dharan Al Janoube, Al Qahmah and Asir region (ABHA) and the work would be completed in about 36 months, the company said in a filing to the BSE.

The trading volumes on the counter have doubled, with 7.72 lakhs being traded on the BSE counter till 1.20PM as againt the two-week volume of 3.24 lakh shares.

IVRCL is a leading EPC and infrastructure company in India.