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Shares of IL&FS Engineering & Construction Company rose over 9% after the company said it received two pipeline laying contracts worth Rs 123 crore from Gas Authority of India.
Reacting to the development, the stock rallied as much as 9% to Rs 57 on the BSE.
On the volume front, 58,000 shares exchanged hands on the counter compared with two-week average of 35,000 shares.
"IL&FS Engineering and Construction Company has received Fax of Acceptance (FOA) from Gas Authority Ltd for two pipeline laying contracts worth Rs 123.05 crore in Kerala/Karnataka," the company said in a BSE filing.
Both the orders
