IL&FS Engg gains after securing orders in West Bengal

IL&FS Engineering and Construction Company rose 3.39% to Rs 44.20 at 11:43 IST on BSE after the company secured orders worth Rs 677.8 crore in West Bengal.

The announcement was made on Saturday, 3 December 2016.

Meanwhile, the S&P BSE Sensex was down 41.92 points or 0.16% at 26,188.74.

On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 52,052 shares in the past one quarter. The stock had hit a high of Rs 46 and a low of Rs 43.75 so far during the day.

The stock had hit a 52-week high of Rs 74.50 on 3 December 2015 and a 52-week low of Rs 36.80 on 22 November 2016. It had underperformed the market over the past one month till 2 December 2016, sliding 19.34% compared with the Sensex's 4.71% fall. The scrip had also underperformed the market in the past one quarter, declining 26.67% as against the Sensex's 8.07% fall.

The small-cap company has equity capital of Rs 121.16 crore. Face value per share is Rs 10.

IL&FS Engineering and Construction Company (IL&FS Engg) said it has emerged as the lowest bidder for two rural electrification (RE) works and additional two Integrated Power Development Works (IPDS) of West Bengal State Electricity Distribution Company (WBSEDCL), Kolkata worth Rs 677.8 crore. The completion schedule of work is 24 months. IL&FS Engineering Services is already working in 24 Paraganas South and North for RE works for WBSEDCL, worth around Rs 657 crore.

IL&FS Engineering and Construction Company reported net loss of Rs 80.67 crore in Q2 September 2016 compared with net loss of Rs 81.87 crore in Q2 September 2015. Net sales rose 1.4% to Rs 356.87 crore in Q2 September 2016 over Q2 September 2015.

IL&FS Engineering and Construction Company is into infrastructure development, construction and project management.

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