IL&FS Engineering and Construction Company rose 4.21% to Rs 43.35 at 11:27 IST on BSE after the company said it bagged a Rs 176 crore order to construct a luxury residential project in Gurgaon.
The company made the announcement after trading hours on Tuesday, 1 April 2014.
Meanwhile, the BSE Sensex was up 56.95 points, or 0.25%, to 22,503.39.
On BSE, so far 8,021 shares were traded in the counter, compared with an average volume of 9,149 shares in the past one quarter.
The stock hit a high of Rs 44.15 and a low of Rs 43.05 so far during the day. The stock hit a 52-week high of Rs 48.50 on 2 January 2014. The stock hit a record low of Rs 19.40 on 2 August 2013.
The stock had outperformed the market over the past one month till 1 April 2014, rising 21.82% compared with the Sensex's 6.28% rise. The scrip had, however, underperformed the market in past one quarter, falling 9.96% as against Sensex's 6.18% rise.
The small-cap company has an equity capital of Rs 89.79 crore. Face value per share is Rs 10.
IL&FS Engineering and Construction Company said it has received a Letter of Intent (LoI) from Ireo for construction of its luxury residential project 'Gurgaon Hills' located at Sec-02, Gurgaon, Haryana.
The Rs 175.80 crore contract is to be completed in 39 months. The 'Gurgoan Hills' luxury residential project has Six Towers (20 to 26 Storey) with total built-up area of around 1.77 million square feet, according to a statement.
IL&FS Engineering is currently executing building projects worth more than Rs 850 crore in National Capital Region (NCR) for clients that include Emaar MGF Land, Unitech, Ansal Properties & Infrastructure, Parsvnath Developers, and Puri Constructions.
IL&FS Engineering & Construction Company reported net loss of Rs 58.27 crore in Q3 December 2013 as against net loss of Rs 31.15 crore in Q3 December 2012. Net sales rose 6.75% to Rs 466.35 crore in Q3 December 2013 over Q3 December 2012.
IL&FS Engineering and Construction Company is an infrastructure development, construction and project management company in India.
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