ITD Cementation India rallies 32.6% in two sessions

ITD Cementation India jumped 11.76% to Rs 677 at 11:21 IST on BSE, with the stock extending Friday's sharp rally triggered by the company winning Rs 2168 crore order.

Meanwhile, the S&P BSE Sensex was up 50.78 points or 0.17% at 29,282.19.

On BSE, so far 1.10 lakh shares were traded in the counter as against average daily volume of 9,594 shares in the past one quarter.

The stock hit a high of Rs 697 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 585 so far during the day. The stock had hit a 52-week low of Rs 120.50 on 26 March 2014.

The stock had outperformed the market over the past one month till 20 February 2015, surging 18.03% compared with Sensex's 1.55% rise. The scrip had also outperformed the market in past one quarter, jumping 31.54% as against Sensex's 4.15% rise.

The small-cap construction company has equity capital of Rs 15.52 crore. Face value per share is Rs 10.

Shares of ITD Cementation India have rallied 32.68% in two trading sessions from Rs 510.25 on 19 February 2015, after the company during market hours on Friday 20 February 2015 said it has won Rs 2168 crore order for dredging and reclamation works for container terminal 4 at Jawaharlal Nehru Port, Mumbai. The stock had rallied 18.72% to settle at Rs 605.75 on Friday, 20 February 2015. ITD Cementation India said that the company has won an order worth Rs 2168 crore from concessionaire, Bharat Mumbai Container Terminals, for dredging and reclamation works on part of the phase-I development of fourth container terminal in JN Port.

Bharat Mumbai Container Terminals (BMCT), a wholly-owned subsidiary of PSA Bharat Investments (which is a subsidiary of PSA International), signed the concession with Jawaharlal Nehru Port Trust (JNPT) to develop the JN Port's fourth container terminal on a design, build, operate, finance and transfer basis in Mumbai for a period of 30 years. PSA will work along with JNPT to develop the terminal in India to cater to the increasing demand for container handling capacity and facilitate maritime trade in India. Phase-I of BMCT is expected to commence operations in early 2018, ITD Cementation India said.

On a consolidated basis, ITD Cementation India reported net loss of Rs 21.95 crore in Q3 September 2014, higher than net loss of Rs 3.34 crore in Q3 September 2014. Net sales rose 7.6% to Rs 403.96 crore in Q3 September 2014 over Q3 September 2013.

ITD Cementation India is a civil engineering, contracting and construction organization providing integrated design, engineering, procurement and construction services for infrastructure development projects in India.

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