IL&FS Engineering spurts after new order

IL&FS Engineering and Construction Company jumped 7.67% to Rs 66.70 at 12:03 IST on BSE after the company said it has received a letter of award for an EPC contract worth Rs 179.84 crore.

The announcement was made after market hours yesterday, 28 October 2014.

Meanwhile, the S&P BSE Sensex was up 161.65 points or 0.6% at 27,042.47.

On BSE, so far 96,000 shares were traded in the counter as against average daily volume of 25,735 shares in the past one quarter.

The stock hit a high of Rs 70 and a low of Rs 65 so far during the day. The stock had hit a 52-week high of Rs 76.10 on 21 May 2014. The stock had hit a 52-week low of Rs 30.45 on 30 October 2013.

The stock had outperformed the market over the past one month till 28 October 2014, surging 12.03% compared with Sensex's 0.96% rise. The scrip had also outperformed the market in past one quarter, advancing 3.86% as against Sensex's 3.42% rise.

The small-cap company has equity capital of Rs 89.86 crore. Face value per share is Rs 10.

IL&FS Engineering and Construction Company announced that it received a letter of award (LOA) from IL&FS Maritime Infrastructure Company (IMICL) on behalf of Dighi Port for a total value of Rs 179.84 crore for engineering, procurement, and construction (EPC) contract for development of Multipurpose Berth, Backup Yard Development and Utilities of Multipurpose Terminal Berth 5 on North Side of Dighi Port, Agardanda in the state of Maharashtra. The project completion period is 545 days from the date of Notice to Proceed (NTP).

IL&FS Engineering and Construction Company reported net loss of Rs 37.05 crore in Q1 June 2014 compared with net profit of Rs 2 crore in Q1 June 2013. Net sales rose 11.8% to Rs 538.41 crore in Q1 June 2014 over Q1 June 2013.

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

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