IVRCL surges 6.5% on Rs 299 cr contract

The scrip touched a new high of Rs 294 and finally ended at Rs 289, up 6.5%. The counter witnessed trades of 894,234 shares on the BSE today.
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Updated at 1022 Hrs:

IVRCL Infrastructure & Projects has surged 6% on bagging orders worth Rs 299 crore.

The stock today opened at Rs 280. The stock touched a low of Rs 278 and then zoomed to a high of Rs 289. The stock is currently trading at Rs 287, up 6%. Around 136,715 shares were traded on the BSE so far.

According to a release issued by the company to the BSE, IVRCL Infrastructure & Projects has bagged Rs 299 crore order, awarded by the Government of Bihar, Public Health Engineering Department.

The orders, bagged by IVRCL’s water works division, envisages collection of hydrological data, design, detailed engineering, construction, supply, installation, commissioning of Multi-villages' Surface Water Supply Scheme with a total capacity of 41.18 million litre per day for arsenic-affected villages under Bidupur and adjoining blocks of Vaishali district, Simri and Buxar blocks of Buxar district and Maner block of Patna district.

To be executed on a turnkey basis, the project is to be completed in 30 months, IVRCL said in a filing to the BSE on Wednesday.