IL&FS Eng shares surge over 7% on winning Rs 533 cr project

Shares of IL&FS Engineering and Construction Company today surged over 7 per cent as the company has won a Rs 532.67 crore contract from Nagpur Rail Corporation.
The scrip soared 7.17 per cent to settle at Rs 54.55 on BSE. During the day, it zoomed 15.12 per cent to Rs 58.60.
On NSE, shares of the company jumped 6.64 per cent to close at Rs 54.55.
In terms of volume, 2.11 lakh shares of the company were traded at BSE and over 11 lakh shares changed hands at NSE during the day.
"IL&FS Engineering Services has received a Letter of Acceptance (LoA) from Nagpur Metro Rail Corporation Limited (A Joint Venture of government of India and government of Maharashtra) for Rs 532.67 crore Nagpur Metro Rail Project," the company had said in a statement on Friday.

The project involves construction of seven elevated metro stations, and three at-grade stations (North South Corridor) viz Congress Nagar to Khapri. The project is to be completed in 110 weeks from the date of issue of LoA.