ITDC hits upper circuit after multiple order wins

ITD Cementation India (ITDC) was locked in an upper circuit of 5% at Rs 66.05 after the company said it has won orders valued over Rs 3400 crore.

The company has received letters of acceptance (LoA) for three separate projects. The company received LoA from Bangalore Metro Rail Corporation for design & construction of underground structures (tunnels & 4 stations), including allied works in Reach-6 Line of Bangalore Metro Rail Project, Phase-2.

Further, the company received 3 LoAs from IRCON International for tunnelling works on Sivok (West Bengal) to Rangpo (Sikkim) new single broad gauge railway line project comprising of construction of 6 tunnels.

The company also received LOA from Municipal Corporation of Greater Mumbai for construction of sewer tunnel and allied works along S.V. Road by segmental tunnelling method.

The stock has surged 26.29% in six trading sessions. On BSE, 1.26 lakh shares were traded on the counter so far which is almost 3 times its 2-week daily average of 45,000 shares.

Meanwhile, the S&P BSE Sensex was up 1.17% and trading at a record intraday high of 40,832.37.

ITD Cementation India is a construction company operating in India with an established presence in marine structures, mass rapid transit systems, airports, hydro-electric power, tunnels, dams & irrigation, highways, bridges & flyovers, industrial buildings and structures, foundation & specialist engineering.

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