J Kumar Infra, ITD Cementation gain on talk of winning Mumbai Metro contracts

ITD Cementation has rallied 16% to Rs 101, while, J Kumar Infra gained 7.5% to Rs 900 on the BSE in early morning trade.

Shares of J Kumar Infraprojects and ITD Cementation India have rallied by up to 16% on the BSE in early morning trade on reports that these companies have emerged L1 bidders for Mumbai Metro rail blocks.

According to Business Standard reports, seven consortiums have emerged as L1 bidders. Engineering and infrastructure major Larsen & Toubro (in partnership with Shanghai Tunnel Engineering Co) emerged the lowest bidder for two sections (Cuffe Parade to Flora Fountain and Marol to Seepz) of the 33.5-km corridor. CLICK HERE TO READ THE FULL REPORT.

The section spans 4.8 kilometres from Siddivinayak to Dharavi will be handled by a consortium comprising Continental Engineering Corp, ITD Cementation and Tata Projects. The section passes through the business district of Bandra- Kurla Complex. This is a 6.99 kilometre section joining Dharavi to the domestic airport in Santa Cruz will be built by a J Kumar Infraprojects and China Railway No.3 engineering group.

Bidders for the other sections include consortiums led by HCC (CST to Mumbai Central section) and Soma (Mumbai Central to Mahim section).

Among the individual stocks, ITD Cementation has rallied 16% to Rs 101, also its 52-week high on the BSE while, J Kumar Infraprojects gained 7.5% to Rs 900. Larsen & Toubro and HCC are other two listed companies trading flat at Rs 1,550 and Rs 23 respectively.