IVRCL jumps after winning orders

IVRCL rose 4.71% to Rs 9.79 at 11:21 IST on BSE after the company said that its irrigation and water divisions have bagged orders aggregating to Rs 350.96 crore.

The announcement was made during trading hours today, 8 January 2016.

Meanwhile, the BSE Sensex was up 106.39 points, or 0.43%, to 24,958.22.

On BSE, so far 6.80 lakh shares were traded in the counter, compared with an average volume of 6.54 lakh shares in the past one quarter. The stock hit a high of Rs 10.17 and a low of Rs 9.45 so far during the day. The stock hit a 52-week high of Rs 21.30 on 3 March 2015. The stock hit a 52-week low of Rs 6.52 on 21 September 2015. The stock had underperformed the market over the past one month till 7 January 2016, falling 5.56% compared with 2.66% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 13.61% as against Sensex's 8.08% fall.

The small-cap company has an equity capital of Rs 104.52 crore. Face value per share is Rs 2.

IVRCL said that its irrigation division bagged orders worth Rs 324.67 crore and its water division bagged order worth Rs 26.29 crore.

IVRCL reported net loss of Rs 305.46 crore in Q2 September 2015, higher than net loss of Rs 187.55 crore in Q2 September 2014. Net sales rose 4.8% to Rs 641 crore in Q2 September 2015 over Q2 September 2014.

IVRCL is a leading engineering, procurement and construction (EPC) and infrastructure company. Its core areas of work include value chain across sectors such as water & environment, irrigation, transportation and power distribution & transmission.

Powered by Capital Market - Live News